{"id":5298,"date":"2012-08-19T07:05:57","date_gmt":"2012-08-19T11:05:57","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5298"},"modified":"2012-08-19T07:05:57","modified_gmt":"2012-08-19T11:05:57","slug":"francois-hollandes-wrong-idea-of-france-by-brigitte-granville-project-syndicate","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/19\/francois-hollandes-wrong-idea-of-france-by-brigitte-granville-project-syndicate\/","title":{"rendered":""Fran\u00e7ois Hollande\u2019s Wrong Idea of France" by Brigitte Granville | Project Syndicate"},"content":{"rendered":"

Since the euro\u2019s introduction, unit labor costs have risen dramatically faster in France than they have in Germany. According to Eurostat data published in April 2011, the hourly labor cost in France was \u20ac34.2, compared to \u20ac30.1 in Germany \u2013 and nearly 20% higher than the eurozone average of \u20ac27.6. France\u2019s current-account deficit has risen to more than 2% of GDP, even as its economic growth has ground to a halt.<\/p>\n

The high cost of employing workers in France is due not so much to wages and benefits as it is to payroll taxes levied on employers. The entire French political class has long delighted in taxing labor to finance the country\u2019s generous welfare provisions, thus avoiding excessively high taxation of individuals\u2019 income and consumption \u2013 though that is about to come to an end as Hollande intends to slap a 75% tax on incomes above \u20ac1 million. This is a version of the fallacy that taxing companies (\u201ccapital\u201d) spares ordinary people (\u201cworkers\u201d).<\/p><\/blockquote>\n

via “Fran\u00e7ois Hollande\u2019s Wrong Idea of France” by Brigitte Granville | Project Syndicate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Since the euro\u2019s introduction, unit labor costs have risen dramatically faster in France than they have in Germany. According to Eurostat data published in April 2011, the hourly labor cost in France was \u20ac34.2, compared to \u20ac30.1 in Germany \u2013 and nearly 20% higher than the eurozone average of \u20ac27.6. France\u2019s current-account deficit has risen … <\/p>\n

Continue reading “"Fran\u00e7ois Hollande\u2019s Wrong Idea of France" by Brigitte Granville | Project Syndicate”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,33],"tags":[],"class_list":["post-5298","post","type-post","status-publish","format-standard","hentry","category-economy","category-uk-europe-countries-regions"],"yoast_head":"\n"Fran\u00e7ois Hollande\u2019s Wrong Idea of France" by Brigitte Granville | Project Syndicate - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\""Fran\u00e7ois Hollande\u2019s Wrong Idea of France" by Brigitte Granville | Project Syndicate - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Since the euro\u2019s introduction, unit labor costs have risen dramatically faster in France than they have in Germany. According to Eurostat data published in April 2011, the hourly labor cost in France was \u20ac34.2, compared to \u20ac30.1 in Germany \u2013 and nearly 20% higher than the eurozone average of \u20ac27.6. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1ns","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6484,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/14\/belgium-ranked-as-the-3rd-most-productive-country-in-the-world\/","url_meta":{"origin":5298,"position":0},"title":"Belgium ranked as the 3rd most productive country in the world?","author":"Colin Twiggs","date":"December 14, 2012","format":false,"excerpt":"Belgium scores highly on international productivity rankings, which compare GDP (converted to USD after adjusting for purchasing power parity) to hours worked by the workforce. But results can be deceiving. Amcham Belgium writes: Although Belgium has a high productivity score, it might not be all good news. Firstly, the results\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6471,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/14\/labor-productivity-can-be-misleading\/","url_meta":{"origin":5298,"position":1},"title":"Labor productivity can be misleading","author":"Colin Twiggs","date":"December 14, 2012","format":false,"excerpt":"We are frequently bombarded with labor productivity statistics such as output per hour worked and unit labor costs -- normally accompanied by political hand-wringing exhorting us to improve productivity -- but how accurate are these statistics and what do they mean? First let's look at GDP per capita. This should\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6404,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/09\/insight-making-france-work-again-reuters\/","url_meta":{"origin":5298,"position":2},"title":"Insight: Making France work again | Reuters","author":"Colin Twiggs","date":"December 9, 2012","format":false,"excerpt":"Marc John identifies the challenges facing France and how it can recover its lost vigor. In just over 30 years after World War Two, France lifted itself from the ignominy of Nazi occupation into a sleek and modern Group of Seven economy with world-beating industrial champions in sectors such as\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8890,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/12\/21\/why-australian-manufacturing-is-dying\/","url_meta":{"origin":5298,"position":3},"title":"Why Australian manufacturing is dying","author":"ColinTwiggs","date":"December 21, 2013","format":false,"excerpt":"The following graphs from the Productivity Commission Preliminary Report on Australia\u2019s Automotive Manufacturing Industry give an insight into the problems facing Australian manufacturers. The first graph compares average hourly labor costs for auto-manufacturers in different countries. Australia is second-highest (behind Germany), in terms of labor cost per hour, and roughly\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13726,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/12\/21\/why-australian-manufacturing-is-dying-2\/","url_meta":{"origin":5298,"position":4},"title":"Why Australian manufacturing is dying","author":"ColinTwiggs","date":"December 21, 2013","format":false,"excerpt":"The following graphs from the Productivity Commission Preliminary Report on Australia\u2019s Automotive Manufacturing Industry give an insight into the problems facing Australian manufacturers. The first graph compares average hourly labor costs for auto-manufacturers in different countries. Australia is second-highest (behind Germany), in terms of labor cost per hour, and roughly\u2026","rel":"","context":"In "Market Insights"","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5285,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/french-industrial-policies-are-aiding-rapid-decline-of-peugeot-spiegel-online\/","url_meta":{"origin":5298,"position":5},"title":"French Industrial Policies Are Aiding Rapid Decline of Peugeot – SPIEGEL ONLINE","author":"Colin Twiggs","date":"August 18, 2012","format":false,"excerpt":"By Dietmar Hawranek and Isabell H\u00fclsen: When Helping Is Hurting Ironically, the victims of these two developments -- focusing on production in France and high wage increases -- are those whose cause is being championed by governments and labor representatives: the autoworkers themselves. Workers at the [Peugeot] Aulnay plant had\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=5298"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5298\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}