Abstract
During the past two decades, Germany has experienced a phase of economic stagnation that provoked the metaphor of 'the sick man of Europe'. After the recent economic upturn, commentators and politicians argued that Germany has finally regained former strength and it has even been drawn on the metaphor of a new 'economic miracle'. In the article, this claim will be critically tested against the theoretical background of a novel post-Keynesian market constellation approach.
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