by Jerome a Paris
Fri Feb 1st, 2008 at 05:31:40 AM EST
Paul Betts writes a daily eurozone-bashing column in the market pages of the FT (logically called "European View"). It's a good place to go if you like to see the French or the Germans mocked, insulted and demeaned. But it's also a good place to read an unadulterated version of the reform gospels, including when it becomes completely absurd.
Yesterday's column provides a wonderful example, as the author notes the great performance of the German Mittelstand companies, especially on export markets:
They all share something in common - a consistent long-term approach, investing heavily in Germany and looking after their workers. In turn, this has allowed them to rely on workers' goodwill when times are hard. Their big concern is that Berlin's reluctance to engage in more structural economic reform will make employees less co-operative and less reform-minded. A US recession would hit them, but no harder than previous ones. A lack of reform would be more painful and risks damaging the backbone of the German economy.
So, their success comes from looking after their workers. And that's threatened by ... the lack of "reform", ie workers will cooperate less because ... there are no new laws to make it easier to fire them, to reduce their union rights, or to ensure that their bosses are taxed less?
Yes, workers are clamoring for "reform", because otherwise they won't be taken care of by their companies. Damn the reactionary left that stands against the rights of workers!
Oh what strange times we live in...
