In France, the “radical” job reform legislation that has hit several road blocks from various labor unions and student groups has officially been put on the back burner. While this is not entirely surprising, one wonders if the protestors of liberalized employment regulations followed their own philosophy of working no more than 35-hours per week or using young Bohemians only. Perhaps an audit should be conducted to uncover if anyone picketed, shouted, planned or thought of protesting longer than they were legally allowed to.
While ‘qui bono‘ (who benefits) certainly comes into play regarding the self-interested nature of labor unions who are solely looking after the careers of their members, economic ignorance played its own role as well:
In a 22-country survey published in January, France was the only nation disagreeing with the premise that the best system is “the free-market economy.” In the poll, conducted by the University of Maryland, only 36 percent of French respondents agreed, compared with 65 percent in Germany, 66 percent in Britain, 71 percent in the United States and 74 percent in China.
Has anyone interviewed the relatives of Bastiat lately?
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Even funnier is the number of French economics teachers who believe inflation is a psychological/sociological/psych-analytical phenomenon….
…71 percent in the United States and 74 percent in China.
Wow.
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