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Co-determination.
I guess co-determination helps wages in a place like Germany, but so do the tight fiscal policy and CA surpluses and focus on vocational education. Do you really think that one without the others gets us higher wages?
You can't co-determine your way out of a skills gap, so no it would probably not be very effective.
It seems like the other pieces of the ecosystem in Germany are critical for co-determination to be successful, and if you have those pieces then do you really need the co-determination in the first place? More confused correlation/causation.
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