Germany’s Chancellor Friedrich Merz appears to have drawn at least one important lesson from his recent visit to China. He thinks Germans don’t work enough. Maybe that’s because the country’s workers lack appropriate financial incentives.

Rather than malign his compatriots’ work ethic, Merz should tackle one of the causes of Germans’ comparatively low working hours: a tax and social security system that can reduce the incentive to work and shrink take-home pay.

© Bloomberg