4 ms·
Indeed. One could look at the GDP per hour worked. France and Germany GDP per hour worked is only about 6% less than the US (while it was mostly the same until
by raphaelj 6y ago
Indeed. One could look at the GDP per hour worked.
France and Germany GDP per hour worked is only about 6% less than the US (while it was mostly the same until 2008) [1] [2].
Seems like most of the difference can be explained by stronger work-life balance policies chosen by European (sick days, holidays, earlier retirement and parental leave).
[1] https://i.imgur.com/zuZ4pYz.png https://i.imgur.com/zuZ4pYz.png
[2] https://data.oecd.org/lprdty/gdp-per-hour-worked.htm https://data.oecd.org/lprdty/gdp-per-hour-worked.htm
- kzrdude 6y agoFrance/Germany can still be said to be falling behind in this graph - but super interesting to see anyway. I think part of the explanation is that the finance and high-tech sectors are way overvalued in money, and they shift the balance massively. This "inflates" the GDP in the U.S. This has basically been a conscious policy in the U.S. - "quantitative easing".
- mytailorisrich 6y ago6% is a big drop. Because it is productivity per hour worked and not overall (i.e. total of hours worked) "stronger work-life balance" policies should make no difference and furthermore nothing significant changed in that respect since 2005-2008.