Essay: „Mehr leisten, um uns mehr leisten zu können“ – Der Siemens-Chef erklärt, warum wir unseren Wohlstand neu erarbeiten müssen

In physics, one learns an early principle: power is work divided by time. The same principle applies to economies, where economic output and prosperity depend on how much we work and how much value we create from it. Therefore, we must contribute something to be able to benefit from it: quality education, dependable infrastructure, and social security.

Germany isn't experiencing a traditional labor market crisis. Instead, we face a future crisis – one unlike any the Federal Republic has encountered before. First, the generations with high birthrates are retiring. Fewer people of working age must shoulder the costs of an aging society. At the same time, the productivity edge that has enabled Germany's success for decades is eroding.

German factories cost more, yet also generate more value per hour worked. This edge is diminishing as other countries become more competitive. Moreover, technological change intensifies the pressure. New technologies – most notably artificial intelligence – alter how we design, produce, and where future growth and higher productivity will emerge.

Our global competitors are responding with speed. They work harder, invest heavily in state-of-the-art facilities, and introduce new technologies faster. Germany remains a formidable competitor. However, we are falling behind. The equation that once underpinned our prosperity no longer holds: we work less, invest too little, and move too slowly. But we can change this. If enough people are willing to step up and tackle these challenges.