Germany is in the middle of a boom. Corporate profits, wages and incomes are on the rise. Nevertheless, negative headlines dominate. Only wealthy people would benefit from the upswing. That was unfair and had to be changed.

On average, according to DIW Berlin, total net household incomes rose after inflation from 1991 to 2014, with middle-income growth exceeding eight percent. These people are also better off today. However, the plus of the ten percent with the highest income was 27 percent. Is that unfair? Or are there understandable reasons for this? income always has a lot to do with qualifications. With a willingness to take risks. And with commitment. On the following pages we introduce you to entrepreneurs who have risked their savings and live almost exclusively for their company. Is it not okay for their income to increase significantly more than that of their employees in the event of success? The risk aspect is also often overlooked in the case of capital income and the development of assets. Many German citizens shy away from equity risk. If they had invested only 100 Euro per month in the DAX since 1991, this would have become 95000 Euro. Is it unfair if the assets of people who invest entrepreneurially grow more strongly than those who invest risk-free?

However, the situation of the lowest ten percent is difficult. Between 1991 and 2014, they suffered real income losses of eight percent, mainly due to the expansion of the low-wage sector. This problem can hardly be solved with even more redistribution; instead it is about qualification. More equal opportunities. And about targeting the priorities of social policy precisely at those who really need it. All in all, our community has not become any more antisocial. On the contrary, the total of all social benefits rose by almost 20 percent relative to the national product during this period - from 25.0 to 29.1 percent.

You see, justice isn't that easy. It would be a good policy in the current boom to build reserves in the social systems in view of the demographic time bomb, but instead the campaigners distribute gifts to their clientele under the guise of more justice. The invoice for this is due in ten years. But then these politicians enjoy their - just? - Pension.

Sincerely,

Klaus Meitinger
Chief Editor

Moritz Eckes
Publisher