“French industry has been ruined by overly powerful unions and their political allies in the Socialist Party. One would be crazy these days to open a factory in France with its absurd 35-hour work week, endless vacations, surly unions, strikes, and social costs that add 50% to worker’s salaries. Laying off workers during downturns or closing plants involves siege warfare. French universities keep churning out unemployable graduates in social anthropology, sociology, and film-making. Government in France employs 56% of all workers, an unsustainable cost that, with retirement at 60 and unemployment benefits – now 32% of GDP – is bleeding the economy to death.”
http://ericmargolis.com/2013/06/is-la-vie-en-rose-over-for-france/
Related posts:
Making the Victim Pay for the Bullet
Inclusionary Zoning Makes Housing Less Affordable
How Nixon the Keynesian Destroyed the Monetary Regime of Keynes
The Silver Lining as Banks Say “No More Americans”
The Real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves
We’re All Criminals and Outlaws in the Eyes of the American Police State
The Dorm Boom: Higher Education’s Fellow Traveler
“Why I Set Up an Offshore Company”
Jacob Hornberger: Unlimited Government
How Empires End
Roving Bandit, Stationary Bandit, and Income Tax
Cowardice Redefined: The New Face of American Serial Killers
The Digital Trap in your Offshore Plan
A $100k earner gets to keep $99k in Singapore but $57k in San Francisco
My Question for Simon Johnson