Hornschild, Kurt
July 2004
Economic Bulletin;Jul2004, Vol. 41 Issue 7, p219
Academic Journal
This article presents the author's opinion on an innovation campaign launched by German Prime Minister Gerhard Schr�der. The campaign promises better conditions in such areas as vocational training, education and research and development, and for technology-based firms and new businesses. His aim is to revive the image of the German economy that was successful for so many years and whose main strengths were its highly skilled human capital and an efficient innovation system. To be successful, an innovation policy needs to be complex, and it needs understanding of the way markets work and the behavior of protagonists. Above all, it needs to be implemented competently. This also means that the targets set, the periods assumed for the policy to take effect, the instruments used and the planned use of public funds for these need to be concretized, described and made transparent. Germany must face up consistently to the growing international competition and shape its business conditions accordingly. As an example, the government's overall industrial policy is reactive and lacks a general concept, and the innovation campaign is distinguished more by what it promises than by what it is achieving in the pursuit of longer term aims.


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