“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:
Cash in on the Secret Sigma Strategy
Realism versus Nonintervention
The Fantasy of Debt: No Trade-Offs, No Sacrifices
The Economics Behind the U.S. Government's Unwinnable War on Drugs
Sutton’s Theory of Elite Action, Applied To ISIS
Is the U.S. at War with Al-Qaeda?
Energy Manipulation
Don’t Call the Cops If You’re Autistic, Deaf, Mentally Ill, Disabled or Old
A Dozen Things I’ve Learned From Michael Mauboussin About Investing
The Gold Roller Coaster
Paul Ehrlich predicted an imminent population catastrophe in 1965
Rebuilding Mogadishu with Local Knowledge
The Gig Economy Makes Karl Marx’s Dreams Come True
Minority Report: Fiction Has Become Reality
Sibel Edmonds Explains Who's At The Top Of The Pyramid