The French are getting….smarter. French MPs have voted to eliminate the mandatory 35-hour per week cap on working hours. It had been heralded when passed as a stroke of genius to increase the number of jobs by sharing out the work more equitably. Instead, it caused unemployment.
If only they had read the great French economists, such as Jean-Baptiste Say; every act of production brings into being wealth that can be traded for other wealth, or, as it has often been put, “Supply Creates Its Own Demand.”