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=> Thoughts while daydreaming in my hammock

Thoughts while daydreaming in my hammock
Posted by Maggie (Guest) - Thursday, August 25 2005, 21:17:06 (CEST)
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When I visit friends in Europe, I see the Europeans do not seek a higher standard of living, They seek what they consider a higher quality of life. Less luxury, but more leisure. There is no objective way to say which is better. But, it's obvious that a diligent worker who loves luxuries will out-produce a not-so-diligent worker who loves leisure. A contest of production between an American worker, who produces one-third more per hour and works one-third more hours than the European, will be no contest.

Between 1970 and 2001, the hours worked annually by the average American worker went from 1,900 to 2,000. Meanwhile, the hours worked annually by the average German worker went from 1,900 to 1,550.

In 1960, the average retirement age of a French worker was 65, now its 59, according to the OECD. For German workers, it went from 65 to 60.5. For Americans it went from 62 to 64.

On top of the disparity in hours worked per year and years worked per career, add the fact that the American worker is also more productive in terms of output per hour of work.

It is fine for the European countries to compete with the United States economically. Isn't competition supposed to be good for the economy in general, guided by Adam Smith's Invisible Hand? But, for this to happen, the European worker is going to have to work a third more hours each year and retire five years later, and I doubt that any European politician can get elected on a platform like that.


The Americans are the world’s highest per capita consumers of almost everything. Oil, steel, food, everything! And to keep this "growth is good" lifestyle going, they have to work harder and longer. Whereas, most Europeans have the "why would I want 3 cars, a swimming pool (in Glasgow) or whatever" mentality. Not only that, but it seems that Europeans while having realized that they are all wage slaves try to have a life at the same time.

P.S- I see the almighty Dollar is now worth less than the Euro!! Something we PUSHED for!



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