Chapter
The Unintended Consequences of France's Employment Policies
44:41 - 49:23 (04:41)
French businesses often hire younger workers on temporary contracts in order to avoid the costs of long-term employment, but this has led to negative consequences for generations of younger workers.
Clips
The French system of lifetime employment contracts has led to businesses being unable to afford to keep older employees and crippled younger working people.
44:41 - 46:40 (01:59)
Summary
The French system of lifetime employment contracts has led to businesses being unable to afford to keep older employees and crippled younger working people. This policy, done in the name of good, has destroyed generations of younger workers despite good intentions.
ChapterThe Unintended Consequences of France's Employment Policies
EpisodeJon Talks With Jamie Dimon, CEO of JPMorgan Chase
PodcastThe Problem With Jon Stewart
The gross economic inequalities in the US cannot be resolved by a free market system alone; therefore, meaningful reform of capitalism is essential to prevent the rise of socialism.
46:40 - 48:45 (02:04)
Summary
The gross economic inequalities in the US cannot be resolved by a free market system alone; therefore, meaningful reform of capitalism is essential to prevent the rise of socialism. As the entire system tilts towards the investor class, proposing a demand-side economy that values labor more and capital less would promote a healthier economy.
ChapterThe Unintended Consequences of France's Employment Policies
EpisodeJon Talks With Jamie Dimon, CEO of JPMorgan Chase
PodcastThe Problem With Jon Stewart
The 08-09 crisis and the current situation in France raise the question of whether good intentions alone can lead to bad policy, and whether or not there is a penalty for such policies.
48:45 - 49:23 (00:37)
Summary
The 08-09 crisis and the current situation in France raise the question of whether good intentions alone can lead to bad policy, and whether or not there is a penalty for such policies. The speaker supported most of the Dodd-Frank legislation, but acknowledges that there were multiple factors that contributed to the crisis, just as there are likely multiple factors at play in France's current economic situation.