Comparing Economies: Germany vs Australia
Date Submitted: 12/01/2004 20:02:52
Category: / Business & Economy / Economics
Length: 4 pages (1179 words)
Category: / Business & Economy / Economics
Length: 4 pages (1179 words)
Classification of the Economy
Germany is a huge economy sitting right in the middle of eastern and western Europe with a population of 82.4 million at last estimate in July of 2003, and a land area of 357,021 square kilometres. Germany is classified as a mixed market economy, with most of the decisions left to the free market, but still regulated to ensure competition by the government. Germany has a parliamentary system of government made up by a …
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…will bring with it a very substantial rise in the government outlays for Social Security pensions and for the health care. This however is relevant in both Australia and Germany, with both facing problems of the Baby Boomer Generation (now retiring) highly outweighing the Generation X working population that is meant to support them. This is also Australia's main problem in the long term, with the problem projected to kick in about 20 years from now.
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