Money | The roots of European economic stagnation go back to the 1960s and '70s
by Timothy Lamer
Posted 10/22/05, 12:00 am
Western Europe over the past few months had the classic trappings of labor unrest: millions of workers walking out on their jobs, and companies, unable to hire replacement workers, struggling to cope with the loss.
You probably didn't read about it in the news, though, because it wasn't a strike; it was summertime as usual in France, Germany, and other European nations. Every year, a large portion of the full-time European work force leaves work at the same time, taking advantage of lavish paid vacation and holiday time mandated by law.