Saturday, May 28, 2005

Wait a Second...How Much is Raphael Working?

What's to blame for US workers averaging about six weeks of work per year more than workers in France and Germany?

A recent article in the Economist (also published in the Star-Tribune) discusses several potential reasons. Is it, as Edward Prescott argues, that the tax differentials between the jurisdictions is such that Europeans aren't inclined to push for maximum income? Or is it "a matter of taste" as a professor from MIT contends that Europeans simply enjoy their leisure time more than Americans?

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