Hi Chortle. As surprising as it may seem, the average French worker does have higher productivity than the average U.S. worker. They produce about 10% more per hour than their American counterparts.
And I do agree about most economists. There are many who write nonsense just to be published and gain some name recognition. Fortunately, they are still disregarded by the remaining serious one involved in monetary policies and legitimate research.
And, once again, Ripsnort has misinterpreted something. It was a criticism of a tax reduction that should have given more relief to middle class and working poor to stimulate consumption. Even Greenspan did not endorse the tax cuts in the form they took. But hey, what would he know? He was either with the administration or against them.
Tax cuts for the high income people did not increase investment and did not increase employment as they were billed to do by the administration. The tax rates were not out of line to start with and high earners don't need to be stimulated to work...
