“Western European employees generally work fewer hours but are still paid well by international standards, vexing companies with operations in the region.”
International Herald Tribune, August 25, 2006, p 15.
The horrors of the European welfare state! Six weeks’ paid vacation, universal health care, free university education!
For an interesting paper, read “Why the Welfare State Looks Like a Free Lunch” by Peter H. Lindert (via Marginal Revolution). He writes, “There is no clear net GDP cost of high tax-based social spending on GDP, despite a tradition of assuming that such costs are large.”