The best sentence I read Sunday night

by Tyler Cowen on February 13, 2007 at 7:43 am in Economics | Permalink

…the decline in hours worked in Europe is almost entirely accounted for
by the fact that Europe develops a much smaller service sector than the
US.

3 comments

EclectEcon February 13, 2007 at 10:12 am: So more work is done in the home, outside the market, thus foregoing the benefits of division of labour and specialization? Or is it that higher marginal tax rates drive more services into the underground economy?
gab February 13, 2007 at 5:29 pm: I’m not sure I understand the sentence. Did they mean to say “developed” and not “develops?” It doesn’t seem like there is agreement between “hours worked” and “develops.”

Any help would be appreciated.
Douglas Knight February 13, 2007 at 10:59 pm: Dan Karreman: because it’s compared to the US, which underwent the same shift. If the timings were different, then it would be a terrible comparison, but I think they were comparable.

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