24 October

Germany is a global economic superpower, producing some of the world’s most advanced and sexiest things. Many of the largest and most successful firms are still heavily tied to the regions and even families that set them up. Most of Germany’s financial institutions are community banks, so the money is also locally-focused. And the workforce is heavily unionised, and those unions are involved in the detailed management of the companies. It’s a 21st century craft economy, where craftsmanship rules. The rest of the world is seduced by get-rich-quick individualism, financed by cheap credit and producing almost nothing of any quality. Can you name 3 quality Australian innovations that are making serious money worldwide? Me either. Time to get back to actually building things, with craftsmanship and shared responsibility and profits.