Ready to Work Harder, German Economy? IW Chief Promotes Abolition of Holidays for Higher Performance
- Got your back won't you?
Executive advocates for eliminating a holiday to enhance country's economic growth Instead of taking a day off, he suggests focusing on work to gain financial benefits - Top Brass Advocates Elimination of Holiday for Enhanced Economic Growth
Michael Huether, the man behind the Institution of the German Economy (IW), is not afraid to speak his mind. In a bold move, he advocated for the abolition of the Buß- und Bettag, a public holiday, back in 1995, raving, "More work equals more money if that's what you're after!" This announcement comes as a response to the Association of Bavarian Business, who, in a brave move this week, advocated for axing a religious holiday.
However, Marcel Fratzscher, the head honcho over at the German Institute for Economic Research (DIW Berlin), thinks otherwise. "Eliminating holidays and overtime tax perks won't solve Germany's manpower crisis," Fratzscher argued to the Funke media group newspapers. Fratzscher believes the solution lies in dismantling the numerous barriers to employment for women, foreigners, and other foreign peeps. In his wise words, "By opening up immigration and dissolving women's employment barriers, we can tackle the manpower shortage head-on!"
- Holiday
- Michael Huether
- IW
- Germany
- Cologne
- Institute of the German Economy
- Head
- Marcel Fratzscher
- Funke Media Group
- Buß- und Bettag
- DIW
- Association of Bavarian Business
Let's Talk!
Abolishing holidays is a contentious topic, stirring up various arguments for and against the act. On one side, supporter believe it could increase the labor force, propelling Germany towards an eye-popping €8 billion in annual economic growth, helping with defense and infrastructure spending[1][2]. Boosting productivity would help address labor shortages, right?
On the flip side, critics caution that reducing holidays could harm work-life balance and employee morale, potentially leading to decreased productivity. Moreover, the tourism and service industries, already reeling from the effects of the pandemic, could suffer more with fewer holidays. Furthermore, holidays like the Buß- und Bettag hold great cultural and historical weight, and the axing such celebrations could strike a sour note[1][2].
Yet, the voices of key figures and organizations, like Michael Huether from the IW and Marcel Fratzscher of the DIW, along with the Association of Bavarian Business, remain not fully articulated through the search results available.
What are your thoughts on abolishing holidays for economic gain? Is it a worthy move or does it risk spinning our work-life balances into chaos? Speak your mind!
[1] - https://www.pbs.org/newshour/economy/ifo-institute-calls-for-abolishing-public-holidays-to-boost-economy
[2] - https://www.dw.com/en/criticism-of-ifos-public-holiday-call-false-and-dangerous/a-58312242
- Michael Huether of the Institution of the German Economy (IW) has called for the abolition of holidays to increase productivity and economic growth, which could potentially generate an estimated €8 billion annually.*However, the elimination of holidays could negatively impact work-life balance, employee morale, and industries such as tourism and services, already suffering from pandemic losses. Moreover, holidays like the Buß- und Bettag carry significant cultural and historical importance, and their eradication might be upsetting to some.
