For many observers the beginning of a dynamic economic and stock market upswing in the U.S. in the mid 1990s marked the start of a new era, the times of the new economy. This phenomenon has been under intense discussion ever since - both in the political arena as well as among scientists....

The task of vitalizing the east German economy was severely underestimated - by politicians as well as by both the academic and the business community. Despite all the encouraging signs in east Germany, which undeniably exist, the process will take more time, require more money, and need more...