Politicians, sections of the French media and business executives note that France's unemployment rate — at 10.2 percent, rising to 23.3 percent among under-25s — is more than twice that of Britain. Some say it's because the British labor market is more flexible than France's. Others wonder whether Britain is doing better because it refused to adopt the euro, the currency used by 12 European nations including France.
Many are blaming the adoption of the Euro. For one thing I don't ever remember the French franc being a solid currency that the world wanted to trade for. And for another, I remember France promoting the Euro as a panacea.
But those that argue that Britain's labor market is more flexible would be closer. Socialism is the root cause. At an under-25 unemployment rate of 23.3 percent, it's a wonder that there has not been a rise in crime and massive demonstrations.
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A few years ago, my daughter spent a year studying abroad in Italy; while there, she made trips to France and Spain. Unemployment is rampant throughout Europe and has been for quite some time. College graduates are leaving those countries in droves to find work suitable to their education level.
She told me it is not uncommon to find 30-40 year old men and women still living with their parents; no jobs, no opportunity to "move out" of the family home.
This may also explain the sharp decline in population; people who aren't working don't get married and raise families of their own.
Meanwhile, migrant workers from Turkey, North Africa, and the Middle East continue flowing into Europe because they can find jobs for very low wages.
Citizens who aren't working also go on "unemployment," which is a further drain on the national treasurery.
Vicious cycle, huh?
You are right. It is a very vicious cycle.
When I was in Germany, the Germans were working hard and the West German mark was the envy and backbone currency of the continent. They were busy putting the finishing touches on the reconstruction from WWII and leading Europe in innovation and production.
The only reason they are not doing so well right now is they have absorbed East Germany with their lazy and slothful ways. (Dependency is a hard trait to break.) The East was used to having nothing, so they learned not to put a lot of effort into anything (because no matter how hard they worked, they got nothing). They were very little more then fish in a fish bowl, waiting on their masters to feed them.
When you take away the incentive to create wealth, you take away the very motivation it takes to work as hard (or harder) as the next guy. It kills competition and dissuades companies from putting the best product for the best value, out there.
In essence, you take away a significant amount of freedom.
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