But this shift of perspective—whether in pedagogy or in policy—raises as many questions as it answers. My remarks this morning will detail some of the questions that have recurred in regulatory deliberations in recent years, which I believe to be salient for policy, scholarship, and pedagogy.
Having said that, I would not deny that there is some room for improvement in public investment, given that net investment has been negative for some time now. International comparisons suggest that German public investment is too low. This, however, should be taken with a pinch of salt.