A socialist economic fail
The lesson of France’s workplace culture and its socialist-led economic model is that it can no longer compete, at least in the manufacturing arena. From Reuters:
“The French workforce gets paid high wages but works only three hours. They get one hour for breaks and lunch, talk for three and work for three,” [Titan International’s Maurice] Taylor wrote on February 8 in the letter in English to the minister, Arnaud Montebourg.
“I told this to the French union workers to their faces. They told me that’s the French way!” Taylor added in the letter, which was posted by business daily Les Echos on its website and which the ministry confirmed was genuine.
“Titan is going to buy a Chinese tire company or an Indian one, pay less than one Euro per hour wage and ship all the tires France needs,” he said. “You can keep the so-called workers.”
Many in the left claim Darwinism as their source of truth but somehow they fail to grasp its main economic lesson, that is, succeed or die. (And no, success is not getting a government bailout.)
With globalization and in trading with countries we never used to deal with, everything has changed and to France’s great detriment. With low worker productivity and high regulation, expect all the manufacturing that has a choice—that hasn’t been nationalized—to look for greener and cheaper pastures.
France: like Greece only a little slower.
Finally, President Obama might want to ponder these lessons as well.