Mar21st2006

Quote Of The Day

“Clearly, the European system of employment helps the “insiders” with good jobs, and works against “immigrants” and other newcomers ,or “outsiders” in labor markets. …The labor market restrictions, however, make it hard for immigrants to obtain jobs in the legal economy, so either they are unemployed, or they work in the flourishing underground economies of Europe, where they avoid paying taxes. Apparently, the French intentionally do not collect data on unemployment rates of their Muslim population, but economists there tell me they believe it is more than double the official overall French rate of over 10 per cent unemployed”.Gary Becker, Nobel Prize winning economist, discussing the difference between the US economic model and the European economic model over at the Becker-Posner blog

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