Wednesday, March 23, 2005

Time For Overtime

I missed this story, but here it is a few days late. It seems France has voted to abolish the maximum 35-hour work week.

Is this beginning of something more or just an isolated incident? For an interesting perspective on why Europe would be better off with an economy patterned after the United States, see Cowboy Capitalism: European Myths, American Reality. The book is written by a German journalist and offers a fascinating analysis between American capitalism and European socialism.

1 comment:

Keith Kannenberg said...

I love Rand Simberg's comment on this on his blog: "[the French] are also recognizing that their naive attempt to repeal the laws of economics has utterly failed."

It's amazing to me that there are still many who don't see that the "worker friendly" policies end up stifling growth and thus hurt workers more in the long run. The French passed the 35 hour work week in order to combat inflation, in essence to force employers to hire more workers. Unemployment is still high and, lo and behold! employers simply froze the pay of employees who were required to work less.