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

In the realm of physics, an elementary equation defines performance: it is the work done divided by the time taken. A nation's economy operates on a remarkably similar principle. Economic output and prosperity hinge on the extent of our labor and the value derived from it. Consequently, we must contribute to maintain our own prosperity: through quality education, dependable infrastructure, and social security.

Germany is not currently experiencing a conventional labor market crisis. Instead, we confront a future crisis – one unprecedented in the history of the Federal Republic. On one hand, the generations with the highest birth rates are reaching retirement age. With fewer people of working age, the expenses of an aging society must be shouldered by a shrinking workforce.

Simultaneously, Germany's productivity edge, which once fueled its success, is diminishing over decades. German factories incur higher costs, yet also generate greater value from each hour of labor. This advantage is shrinking as competitors catch up. Furthermore, rapid technological change compounds the pressure. Cutting-edge innovations, especially Artificial Intelligence, are reshaping how products are designed, manufactured, and where future growth and productivity will emerge.

Our global competitors respond swiftly, working longer hours, investing heavily in state-of-the-art facilities, and swiftly deploying new technologies. While Germany remains a formidable competitor, we are falling behind. The equation that once underpinned our prosperity no longer holds: we are laboring less, investing inadequately, and lagging in pace.

However, this predicament is not insurmountable. With enough people prepared to confront these challenges, we can effect change.