[RBASE-L] - Re: Off topic

[Nicky Avery]

But what I wanted to say is that TIME magazine has an editorial in the July 28 issue (how timely) about the differences between the US and European in term of working.  Some quotes:  "while Europeans cut the hours they spend at the office (..in France it is illegal to work more than 35 hrs a week).. Not true, Karen. The official work week is 35 hours but there is no ban on overtime. The idea was that employees would take more leisure and allow for the creation of more jobs in the athero-sclerotic French economy.  My understanding is that more employees are getting 9 weeks of paid vacation a year while still working a 40-hour week. He says that the jammed space of European convinced them to value 'time'; whereas we in the wide open US value 'stuff'.  I doubt it's for the reasons that your Time reporter gives. High taxes, especially high marginal taxes, make a powerful disincentive to earning more money. Most Euro countries penalize consumption through value-added (sales) taxes between 15 and 20% and personal income taxes are higher than here to pay for greater social services. Mortgages are usually on far less favorable terms than here. Beyond a certain (relatively low) level of income it is an economically irrational choice to earn another 100 euros if you will lose 80% in taxes - better to go fishing! Also, in Europe the social safety net including  medical care is far more comprehensive than here. Valuing stuff (= money) over time or the reverse is then a rational socio-economic response. Nicky