So what? If overachieving, workaholic Americans are the ben
chmark, Europeans are positively idle. Across the richer parts of EU, people typically work far fewer hours, with shorter working weeks and longer vacations, than their counterparts in US. But who says bigger cars and sub-zero refrigerators are preferable to more free time? If Americans live to work and Europeans work to live, Europe might be right. The people of Old Europe live well. The standard of living in rich (albeit slow growing) countries such as France and Germany is higher than America’s wage slaves might expect or hope. The US’ much higher output per person is due mostly to more hours on the job, not to superior productivity while working. Most Europeans are actually just as productive as Americans on a per-hour worked basis. In 2005, GDP per hour worked was actually higher in supposedly stagnant France ($49) than in the US ($48).
For Complete IIPM Article, Click on IIPM Article
chmark, Europeans are positively idle. Across the richer parts of EU, people typically work far fewer hours, with shorter working weeks and longer vacations, than their counterparts in US. But who says bigger cars and sub-zero refrigerators are preferable to more free time? If Americans live to work and Europeans work to live, Europe might be right. The people of Old Europe live well. The standard of living in rich (albeit slow growing) countries such as France and Germany is higher than America’s wage slaves might expect or hope. The US’ much higher output per person is due mostly to more hours on the job, not to superior productivity while working. Most Europeans are actually just as productive as Americans on a per-hour worked basis. In 2005, GDP per hour worked was actually higher in supposedly stagnant France ($49) than in the US ($48).For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
