Monte-Carlo, MC
clear sky
7.6 ° C
10 °
5 °
14 °
12 °
12 °
11 °
12 °
Breaking News

Makeover of Casino Square to dramatically change the look of Monte Carlo

Uppity Piketty does it again

Uppity Piketty does it again

By Staff Writer - January 5, 2017

Thomas Piketty in 2015. Photo: Gobierno de Chile
Thomas Piketty in 2015. Photo: Gobierno de Chile

Thomas Piketty, whose book “Capital in the Twenty First Century” became a surprise best-seller, has again courted controversy. This time, writing in Le Monde, the young French economist maintains that despite conventional wisdom that claims the opposite, productivity in Germany and France are almost identical.

However, his measure is “per hour worked”, rather than overall output per person, since French workers enjoy a significantly shorter working week than their German counterparts. But, he says, the European social model has good days ahead of it, “whatever the Brexiters and Trumpists of all kinds think”.

Interestingly, using OCDE figures, Piketty demonstrates that while Germany and France are neck and neck in terms of productivity per hour worked, both Italy and the UK lag far behind.

In a comparison with the USA, France and Germany now have very similar productivity, although the figures have dropped from being considerably above the US figures, while both Italy and the UK show falling productivity per hour worked.

READ ALSO: New rule fuels “work time” debate
Another year, another successful Monaco Business Expo

Previous articleFree tree disposal, transfer of town hall services in Monaco
Next articleNice atrocity complaint dismissed


Stephanie Horsman

An incredible 12-month time lapse video showing the creation of Monaco’s mammoth land extension project has just been released.

January 16, 2020 | Local News

There’s a new bailiff in town

Stephanie Horsman

Monaco has a new bailiff, or huissier as known locally, who was sworn in earlier this week.

January 14, 2020 | Local News

Monaco crime rates continue to fall

Stephanie Horsman

General crime rates in the Principality dropped by a significant 16% between the years 2016 and 2019, and street crime by an impressive 52%.

Stephanie Horsman

As part of the newly approved Palais Honoria housing project, a gantry will be installed above Boulevard de Belgique, creating temporary traffic impediments in the area.