New way of doing business sees itself on a “patriotic mission”

Ulrike Malmendier is the most successful German economist in America. In an interview, she explains why she is returning to her homeland as an “economist” in the Advisory Council – and why riotous debates on Twitter are not her thing.

Professor Malmendier, Olaf Scholz recently dismissed economists, Ifo researcher Andreas Peichl is “no longer interested” in advising on this policy. Why are you becoming a political advisor in Germany now?

I would have asked my clone a few weeks ago. But I’ve had a lot of conversations since then, and the current situation in Germany is the reason for doing it.

In what way?

Traditionally, cutting-edge research and policy advice were separate worlds in Germany. In America and other countries it is different. Academic stars don’t hesitate to go to Washington for a few years when the government calls. In the meantime, however, something is also happening in Germany. Andreas Peichl also said that there is a lot of interest in the ministries and that there is good cooperation. I have now felt this in many discussions with ministries and the Chancellery. We’re knocking on open doors. At the moment I see a huge opportunity for us economists to get more involved in political advice, hopefully for the benefit of our country.