Roger Cohen in his NYTIMES opinion piece observes:
“Germany, I said, does
not believe in quick fixes. It is worth repeating because it is an idea that
sets the country apart in an age where a quick killing, tomorrow’s share price,
instant gratification and short-termism are the norm.
…
If you talk to
business leaders of the German Mittelstand, the small and medium-sized
companies at the heart of the country’s economy, you are transported to another
world. You sit in stark boardrooms, so devoid of indulgence they resemble
classrooms, with unassuming people leading billion-dollar companies, and they
speak of loyalty, 10-year plans, prudence and quality. If one word induces a
look of horror, it is debt. The notion of making money with money, of financial
engineering rather than engineering itself, is alien.”