RARELY DO GERMANY’S top economists see eye to eye on a big economic-policy controversy. But when it comes to the government’s decision to spend billions on subsidies for Intel’s mega semiconductor factory in Magdeburg, Reint Gropp of the Halle Institute for Economic Research, Marcel Fratzscher of the German Institute for Economic Research and Clemens Fuest of the Ifo Institute all agree. They consider lavishing billions on the American firm a spectacular waste of taxpayers’ money.
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The wonks’ consensus is falling on deaf ears.
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