Transcripts For DW Made In Germany 20240714

Never really be one of them if you have been born into thats what makes them so elitist is that power is shed only among a few yes professor michelle hopped among germanys best known expert on elites. You need to delete some people in positions of power it has nothing to do with fame or with wealth necessarily in the world of business there is some overlap but in general elite means power. By the elites make up only a small part of society but they may decide which direction society is headed thats what well be looking at today on made in germany is the idea of social mobility a myth lets face it a lot of what makes elites so powerful is Money Management of rich peoples pocket money has become an industry in itself all big minds now run whole departments that it caters to the financial needs of the wealthy private clients but more and more High Net Worth individuals have in addition to the bottom of the maid and the gardener their own inhouse finance professional Investment Decisions and question of a rather more delicate nature related to large inheritances trust funds and prenuptial agreements the 1st rule for any private wealth manager is utmost discretion so our reporter mugs over common didnt find it easy to get one to talk. In the course discretion is top priority in his business. Is willing to give us an exclusive glimpse into the world of his clients failed wealthy business owning families from germany and switzerland. Alphas that successful and internationally active but somehow shy these private individuals tend to shun publicity thats to avoid arousing the attention of criminals and also flaunting your wealth is frowned upon in a country like germany that values social welfare. Stefan will have has access to these wealthy people he is their Family Officer. A Family Office is a company that invests and manages the assets of rich entrepreneurial families a single Family Office deals exclusively with the finances of one family a multi Family Office deals with several familys wealth. And develops various Investment Strategies together with the familys facets include stocks and bonds real estate odds even vintage cars generally long term and conservative investments and sometimes other kinds of services are requested. For example a client has a security issue hes looking for someone to keep an eye on his children teenagers and if its a relatively wealthy Prominent Client then we need to find someone to shadow a young person well shadow is a negative word but someone to watch out for them discreetly goes as far as contacting people who worked with the British Royal family its a classic network business. Quiet his network in part during his long career in banking along with his Financial Products and Investment Opportunities but how did he become a Family Officer. Chance. With me there was a bit of a pivotal case that happened in my family. Uncles died rather suddenly of lung cancer. I saw the chaos the family was left to cope with. And that inspired me and i thought surely this can somehow be handled more efficiently. Its estimated that 400000000000. 00 euros are bequeath to every year in germany alone most of it tax free. Altogether nearly one 3rd of all wealth in the country is not earned but inherited. Thataway wealth stays where it already is especially when its well invested. Time says the diverse family has assets of 100000000 euros or more its worth commissioning a multiFamily Office for most people thats an unimaginable amount of money. Dismisses the notion that everyone with that kind of wealth lives extravagantly unique in the us and the ones i know are quite conservative families who place a high value on ethical and socially responsible use of their wealth and. In germany the assets of the countrys 45. 00 richest households amount to as much as his own in total by the 20000000. 00 households that make up the poorest half of the population. Is this really is it as many people have a hard time imagining the kinds of returns large fortunes are capable of yielding but if you accept that people arent equal and that some people make more out of their lives than others quite apart from the circumstances they were born into then we cant pretend that doesnt exist. How much he charges the families for services is something new and prefers to keep to himself after all in his line of work discretion is everything. Well so is in Polite Society where you dont talk about how much money you have still we know that most wealth is in the hands of very few people and inequality is not only unfair its actually not good for growth a study by the o. E. C. D. Estimated that between 1902010 the british economy lost nearly 9 Percentage Points. Growth due to widening inequality the figure for sweden is 7 Percentage Points and for the u. S. 6 about the same for germany and japan but how does inequality affect growth because it undermines Educational Opportunities for children from poor backgrounds thats according to the o. E. C. D. But some people do defy the odds and we met with a man who has. But there are 1000 people taking the Big Decisions in this country. Sociologist Michelle Hartman has conducted Extensive Research into elites and more specifically germanys Business Elite the captains of the dax listed corporations not a single woman in their ranks men from mostly upper or middle class backgrounds. For almost half a century 4 out of 5 c. E. O. s and Supervisory Board chairman have come from the top 4 percent of Society Nothing has changed it varies by one or 2 percent from decade to decade. Why is background and upbringing still so important. To us demeo was 8 when his family came to germany from turkey he was best of his year in high school and with the help of scholarships became the 1st in his family to go to college most of his fellow students were the sons and daughters of german establishment families. And they have no end of advantages by comparison financially they tend to be much better off their careers profit from their families networks and they grow up with the hobbies and interests of their respective classes. But what if you come from another place. I dont see it as a weakness i think thats the main danger for a lot of people believing theyre not good enough or cant keep up. As i try to stress no one is better or worse just different. The trick is to stay true to yourself and find your own way of getting on in the system. But getting on in the system isnt always easy for children who come from a working class background or an ethnic minority. Experts say becoming an executive has less to do with merit than the socalled similarity principle. Similarity means that for decades these upper echelons have been populated by men from the top 4 percent of society they speak the same language and watch their grammar they recognise each other by their confident presence and body language so when making appointments the boards are basically looking for someone similar only 20 years younger. So is similar enough to the elite. Recently a friend of mine said from your achievements and the things you talk about i know youre super smart. But some people who dont know you might 1st think who is this guy. From the kind of background where a University Degree and a doctorate or if they were young usual but saddest is determined to get ahead. Fair system would incorporate upward mobility. So that people who have the ambition and the drive have the opportunity to have access to all those things in their lifetime. The chances of going far still unevenly distributed across europe and elsewhere and the elites are often far removed from the everyday concerns of most people. Does many of them have never faced the problem of finding an apartment to rent know that parents in the way have a different appreciation of standards of living for them is normal is a luxury for others we did a study a few years ago which show that the rich and wealthy a member of the elite as i dont know fat they consider the disparities in society the. People who have a lot are therefore more likely to be happy with the status quo in the ivory towers that they inhabit. Every country has leaders and those that are being led Business Executives and workers but how are they recruited in another talk or see the idea is that whatever maybe you have the opportunity to rise in france the elites are still in charge much more than elsewhere in europe if you want to get ahead you have to come from the right family live in the right area and attend the right university. Us fulfills all these requirements and guess what shes on track to become one of frances top managers. Just a week ago they were sailing in the caribbean months and her fellow students are now back in france. Shes president of her universitys caribbean santa cruz concert nearly a 1000 euros per person so it was not exactly. Yes it is inevitably a bit elitist the people there were thinking who are these kids these 20 year olds what are they doing in the caribbean if we did manage to negotiate the price down a bit more we do try to make these trips accessible to everyone. Studying at a. T. C. Parents one of the worlds top ranking Business Schools a. T. C. Graduates are well placed to launch high for. Careerists. Chris if its a federal crime admission is very selective but anybody can apply to a kind a call just like anybody can apply to a regular university i dont know the only selective aspect that could make people jealous is the financial side but lots of grants are available i have plenty of friends who get financial aid. It costs between 750000. 00 euros a year to study at paris depending on the students assets. The school produces leaders in the world of business and politics. They include former french president francois alone. Loreal c. E. O. And. Former Prime Minister of senegal. Lives in downtown paris and one of the most desirable neighborhoods in france a safe upper middle class and vironment her father also attended one of the conde call one that specializes in engineering the data confirm that these elite schools have a disproportionate share of students from higher social classes. Its true that the system is designed to recruit socalled elites but i think every country needs leaders and a way of selecting its elites im all for bio diversity and not having everyone fit the same old so maybe we do attach too much importance to those who make it through the competitive admissions system. To get into one of the condit call you have to pass a multipart Entrance Exam spent 2 years at a special school to prepare for it in your leisure. Its hard to test 2 years of work in the space of a week. Its often a matter of luck. I know people who are extremely disappointed when their results were not all what they had. Expected with no risk one very bad grade in one of the tests can put the school of your dreams completely out of your reach. But all the. Anger over inequality and france has played up again in the past few years its a central issue for the yellow vest protests. Theyre angry about the remote and selfsustaining ruling class politicians and captains of industry. And by implication their offspring who aspire to the same heights the next generation of the elite. Friendships made among students as well as contacts with graduates form the basis of an enduring network. Will soon be off to an internship at a Prestigious Bank thanks to an alumna can a young people fine tune their future careers while theyre still studying. Elites come in for a lot of criticism but we also learn to manage projects and how to withstand the pressure later. Perhaps if they choose c. More should be done to encourage activities that have to do with less privileged people so that we remain in contact with reality. And the term conduct call it originated after the french revolution the idea was that anyone in france could advance on the basis of merit not just eristic kratz. For your book with a lot of people from the provinces come to live in paris its not at all an elite city you find everything in paris just go 10 meters and youre in another neighborhood with totally different thing this. Kind of diverse in terms of population. To be able to think of it as. Many of us as fellow students intend to start their own businesses she wants to work in finance but after graduation she 1st wants to travel the world. Such as the france where elites under attack policymakers and Business Leaders and countering resistance every International Summit draws protests like at the g. 20 meeting last groundswell of dissatisfaction in many countries cannot be ignored g 20 leaders are actually gathering this week in japan and various European Countries popular disservice fashion is very visible. This having both to the right and to the left sometimes in a confusing mix the Global Financial crisis and the eurozone debt crisis of the past decade have a lot of people in italy too many blame brussels and Business Owners say they dont do not want e. U. Technocrats telling them what to do. This father and son team are protesting against taxes which they say are so high they strangle business. The 2 are behind a nonprofit n. G. O. S that offers tax advice to companies in northern italy. Changes in the coming years i think more and more young people will go abroad to look for work and a more secure future. Some critics blame italys Economic Performance on e. U. Regulations and take the blocks technocrats should stay out of the countrys finances. Our economy is being penalized by the fact that all the new taxes that are introduced are justified by the fact that the e. U. Was asking us to do so. Well then maybe this isnt so great for us is it. Under each new rules countries arent supposed to have a debt to g. D. P. Ratio of more than 60 percent in italy its a 132 percent. I think. The real fear here. Across europe really. The economic situation. Deteriorate with massive consequences for italy but then of course for the rest of the eurozone. If it is really failed to address the demand to rein in debt it could face the penalty of up to 3500000000 euros. The owners of this Stone Masonry prisoners are among those who have been lamenting the e. U. Used to months to cut spending. The brother and sister who run the family owned business support the current government skeptical stance towards the european union. And union is being forced upon us. Were happy to Stay Together but only up to a certain point i dont think its so great but actually leave the e. U. To know about. The firm sells marble and grannis a lot of the work is done by hand and it struggles to compete on price. These need to buy new machines but cant afford to do so. Do the right we used to make enough profit to be able to invest in materials and stuff and im going to trade fairs. But now what with taxes banks that charge exorbitant rates of interest competition from emerging markets we no longer have the margins we used to. Do that. Many had hoped the result of the 2018 elections would inject new life blood into the Italian Economy some parts of the government. Strongly reject the notion that brussels complains about the deficit and argue that. Italy has followed the european recipe for too long without success. Its a different approach this is why parts of this government. To offer something very very different. The prospect of e. U. Disciplinary action is stooping investors. Meanwhile across hastily frustration is growing some rebellious minds say its no longer just about taxes and that italys radical Coalition Government which they once supported is no longer a radical and not. The owner of this restaurant for instance once the regional finito to become an independent republic one that doesnt tack that citizens at all. Have nothing to do with the italian state. The combination of economic problems and just spark of rebellion an issue. He could creative to be an explosive mix. In india it used to be that your job was determined by your standing in a complex social hierarchy was determined whether you would prosper or remain as poor as your parents and your grandparents underlying this was the cost system the children of those at the top were set to remain at that sole discrimination on the basis of cost has been outlawed since 950. 00 but traditional structures are hard to change. My name is anita badia my cast is washer woman my job is to wash my customers dresses. Im big question and im a brown men to women whose lives could hardly be more different social inequality is extreme in india this has a lot to do with a traditional caste system rooted in hinduism with the priests of brahmins at the top followed by warriors that merchants and farmers then artisans and laborers system restricted the range of ones possible occupations indias constitution outlaws discrimination on the basis of caste in 1809. 00 a law was passed to enhance protections for what are called shared yield castes and tribes groups that had suffered oppression so do all indians now have the same opportunities and need to buy the born to a low caste family didnt have the opportunity to go to school she says she accepts the caste system to spite the impact its had on her life but that its grip is weakening and i dont remember. A change is coming in our community were now doing the work of other catalysts like business and leaving our ancestral occupation which is washing. Brahmins once priests and scholars are also adapting to change and now pursue secular professions in modern day india rahmans are can definitely do jobs and they are going to move jobs in fact they want to do jobs in respect of all job it is to be upbeat i mean see when they are not ready they did like what we have to do what we have done thats not. On paper educational and professional opportunities are available to all but in reality access to education and Educational Attainment are divided along class and caste lines one 3rd of the indian population is illiterate the legacy of centuries of discrimination. Belongs to one of indias share deal tribes that are legally entitled to a. It is action including quotas known as the reservation policy. Reservation gives us a lot of benefits like places in schools and colleges reservation exists for jobs as well we even have quotas in elections i tried has lots of benefits apart from quarters for government jobs. Hes a gardener a job his ancestors would not have been allowed to have under the once dominant hindu caste system but now he can assert his rights. My name is hemant and this is my Identity Card it proves that i come from a scheduled tribe. Overcoming traditional hierarchies and patterns of social exclusion is somewhat easier in the city spent in the countryside here because of what society is changing television is bringing change to children. With a cellphone anybody can call anywhere in the world. And with the internet you can watch t. V. On your phone. A lot of. People watch it if you did your doctor did about the office and you like only. The thing that counts system is changing gradually people from different castes are getting married. Western culture is proving to be a major influence on young people many are also studying abroad and its the young who are driving change in india. And thats it for today from the other bed in germany hope you enjoyed the show thanks for watching. Enter the conflict zone with Tim Sebastian the song east europeans very good moldova has a new Coalition Government i guess newsweek is not the mature but current fights president of the outgoing governor craft and a former Justice Minister with moldova now how far he would go corruption 50 assuring the peace talks hes raechel in. Conflict so folks who didnt spot t. W. Food. When much of europe wanted to kick them out marie on the program he invited them in. To freak island of so most is home to one of the worst pretty cheap camps in the mediterranean. But one woman makes life a little better for her new neighbors. Meet mom or maria and the refugees of zamost. 90 minutes off d w. Gentlemen with. Any time any place. They need. Video nevada and. Have at the back of the. Songs to sing along to download to see this to come to you from super the front seats to the tide i. Have varied causes put it into active exercise is the hardest thing about d. W. Dont come to ash dungeon and. On facebook and they are still. Jammin for free but deafening. Im not laughing at them well i just sometimes i am but im standing up english and that. Thinks the printer jemma culture looking at the stereotype aquatics but if you think the future of the country that i dont. Need to see the picture describe among them. Its all that. New im rachel join me to meet the jetman sunday w. Post. Global tourist guide functionaries pluming capital i love berlin the scope of the multicultural metropolis you know where youre a mix series if it. Seems like the term simply means i love you even want to show what a certain looks like a swiss like me the site says 50 nations 50 story. And 50 very personal tips on berlins very best features. For live coverage on t w. The. Democrats in the u. S. House of representatives have passed a 4500000000. 00 funding package aimed at easing conditions for migrant families detained at the Us Mexico Border President Trump has threatened to veto the bill it comes as images emerged of the bodies of a father and daughter who drowned trying to cross the rio grande into the u. S. Defense ministers of the Nato Alliance are considering