PEN-L message, Re: [Pen-l] Michael Lewis on Sarkozy

Re: [Pen-l] Michael Lewis on Sarkozy

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>

Subject: Re: [Pen-l] Michael Lewis on Sarkozy

From: Eugene Coyle <eugenecoyle@xxxxxxx>

Date: Sun, 10 Aug 2008 18:11:08 -0700

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Michael Lewis doesn't know the difference between productivity and production. Working longer hours (Sarkozy's aim) could increase production (or not) but might likely lower productivity. This is not trivial ignorance.

Gene Coyle

On Aug 10, 2008, at 3:34 PM, raghu wrote:

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_lewis&sid=azEdlWcgsj5M
-------------------------------------------------snip
In case you missed it, Nicolas Sarkozy, the new French president, has decided that the French need to become more productive. He eliminated the law forbidding work weeks longer than 35 hours, and he's making noises about changing the rule that allows unemployed Frenchmen to turn down job offers that they feel are beneath them and remain on the dole instead.

More Work

No French person is likely to be required to work more than 35 hours a week -- that appears to be too much to ask for just yet -- but any French person who wishes to earn more money may, shockingly, work for it.

[...]

Of course, it's possible to change a society and to drag it into the global economic monoculture. Mrs. Thatcher showed how: Break up collectives and make people feel a little bit more alone in the world. Cut a few holes in the social safety net. Raise the status of money-making, and lower the status of every other activity. Stop giving knighthoods to artists and start giving them to department-store moguls. Stop listening to intellectuals and start listening to entrepreneurs and financiers.

Hate Becomes Love

Don't mind that artists and intellectuals hate you -- or even that, for a time, the entire society seems to hate you. Stick to the plan long enough and the people who are good at making money acquire huge sums and, along with them, power. In time, they become the culture's dominant voice. And they love you for it.

--
Do unto others BEFORE they do unto you!
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