Lifelong learning represents a key response to the demographic challenge in Germany. In terms of professional success, not only hard skills but also soft skills hold importance. Indeed, the OECD competence tests PISA and PIAAC have come to the fore, although acquired skills are still relevant....

This paper tests the theory recently put forward by Edward Lazear that individuals with competence in many skills should have a higher probability of being self-employed than others. The empirical results for Germany support this jack-of-all-trades view.