Bright young people in France aspire to join the social service. The “public sector” is where the cushy jobs are found, with fat salaries and benefits courtesy of French taxpayers. College kids in France do not create Facebook in their dorm. There is no French Google, Microsoft, HP or Yahoo. These American companies were all founded by entrepreneurs.
America still has a thriving private sector. Ambitious people, young and old, can start their own companies. New companies mean fresh opportunity for all workers. A vibrant market, properly regulated, is our best guarantee of financial security. Private employers in France have a tough time:
Social-security contributions are high, the working week is short, the labour code is strict and shedding jobs is slow and difficult. Taking on an employee in France is a risk, so employers avoid it as best they can.
French lawmakers were keen to fund social programs, and build government agencies, at the expense of private enterprise. They were not looking at the big picture. If everyone is a government employee, there are no net taxpayers.
Private employers are the engine of growth in any economy. They create the jobs and pay the taxes. America is now treading the path behind France, with rising taxes, deficits, and expensive new government agencies. Congress must renew its support for private enterprise, or we will kill the golden goose.
See also: On Socialism