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German ignorance of economics revealed

The Local · 13 Dec 2010, 15:41

Published: 13 Dec 2010 15:41 GMT+01:00

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The survey by 13 economists on behalf of the Max Planck Institute for Education Research in Berlin and Zeppelin University in Friedrichshafen and reported in business daily Handelsblatt found that about a third of all Germans also did not know that Rainer Brüderle is Germany’s economy minister.

The survey of more than 1,300 people found that nearly half did not know the nation's approximate unemployment rate.

Nearly three quarters didn’t have a full grasp of how percentages work. Nearly one in four did not know that they lived in what is known as a social market economy.

Knowledge about economic issues rose with age and income. Men performed clearly better than women.

The survey gave the average respondent six out of 10 on economic issues. Peter Kenning, professor of marketing at Zeppelin University said the survey was calibrated to test only a modest understanding of economics rather than being aimed at experts.

“We have to be clear about the fact that the questions did not constitute expert understanding, but rather really minimal understanding,” he said.

Story continues below…

The Local/dw

The Local (news@thelocal.de)

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Your comments about this article

18:14 December 13, 2010 by tallady
When you have a family you are more concerned with household economics,meals and logistics ,who has time for that unusefull knowledge.
18:56 December 13, 2010 by HANNIBAL-BARCA
Germany's economist should be given a test to determine if they know the difference between their head and their arse.

Please excuse my French, butt, Germany has nearly 80% of it's Gold (GLD) outside of it's national borders, i.e. N.Y. & London. Clearly somebody is asleep behind the wheel. Further for all legitimate accounting principles, European Banks, including the big dogs of the Father Land are insolvent.
20:56 December 13, 2010 by DinhoPilot
20% of the comments are about the article, 40% about grammar and 40% about French.... wahhaaa???!!
21:41 December 13, 2010 by Simon_Kellett
> Nearly three quarters didn¦#39;t have a full grasp of how percentages work.

Hence the popularity of Lotto :-)
23:40 December 13, 2010 by ReaderX
"German ignorance of economics revealed" Duh their socialists. Socialists don't understand economics. Percentages or not.
08:12 December 14, 2010 by Maurice45
The Times: "Germans are Brainiest"

"A new European league of IQ scores has ranked the British in eighth place, well above the French, who were 19th. Top of the table were the Germans, with an IQ of 107. According to Richard Lynn of the University of Ulster, Britons have an average IQ of 100. The French scored 94. But it is not all good news. The British were also beaten by the Netherlands, Poland, Sweden, Italy, Austria and Switzerland."


Wonder how then the Brits would have scored in that study of Max Planck Institute for Education with an IQ of only 100 ... or the Americans with an average IQ score of 96 ... or the French with an average IQ of 94?

This might explain why the above totaled their economies while the Germans are doing just fine.
13:20 December 14, 2010 by DinhoPilot

Excuse but this was about knowledge of economics, not IQ test. IQ doesn't equal education.This same study came from someone who claimed women are dumber, southerns are dumber, blacks, etc... so on. Ignorance (or not knowing of something specific or general knowledge) does not equate to dumbeness.

Nowhere in the article claims that germans are dumb or something like it just claims they have less knowledge about economics as many studies claimed that americans have less knowledge about other countries, etc...

If you got offended then go on and moan... no one in here was proclaim any kind of supremacy (its not their thing) ... chilax!
14:08 December 14, 2010 by Petzl
I thought this article was rubbish, it did not quote the questions properly, and the writer seems to have trouble with percentages him/her self.

As to 90% of the responses, time wasting, bickering, drivel.
08:44 December 16, 2010 by Da Goat
What a stupid article. Most economists don't understand either, very few can predict anything !

if economists don't understand how does one expect the sheeple to??

oh BTW 63.8% of statistics are just made Up! ROFLMAO!
23:09 January 30, 2011 by Joe24
This article doesn't surprise me at all. After a while I figured that many Germans are not comfortable talking economics because they know little about it. I always find it surprising to see how many Germans support higher taxes (even sales tax) and they don't realize that it hurts their nation¦#39;s economy. I have yet to find a TV channel that specializes on economic and business news. There used to be a German version of Bloomberg but that one didn't make it.
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