Wednesday, July 07, 2004
Europe's long siesta, it seems, has finally reached its limit — a victim of chronic economic stagnation, deteriorating public finances and competition from low-wage countries in the enlarged European Union and in Asia. Most important, many Europeans now believe that shorter hours, once seen as a way of spreading work among more people, have done little to ease unemployment.
Ok, that's not our fault. Read on....;
"We have created a leisure society, while the Americans have created a work society," said Klaus F. Zimmermann, the president of the German Institute for Economic Research in Berlin. "But our model does not work anymore. We are in the process of rethinking it."
From the 1970's until recently, Europe followed a philosophy of less is more when it came to labor, with the result that Europeans work an average of 10 percent fewer hours a year than Americans. Germans, with the lightest schedule, work about 18 percent fewer hours.
How nice would that be? To work even 10% less? I'd love that! Maybe I need to move to Italy so that I can enjoy the 3 hour lunches?