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"If you look at the troubles which happened in European countries, this is purely because of the accumulated troubles of the worn out welfare society. I think the labour laws are outdated. The labour laws induce sloth, indolence, rather than hardworking. The incentive system, is totally out of whack.

"Why should, for instance, within [the] eurozone some member's people have to work to 65, even longer, whereas in some other countries they are happily retiring at 55, languishing on the beach? This is unfair. The welfare system is good for any society to reduce the gap, to help those who happen to have disadvantages, to enjoy a good life, but a welfare society should not induce people not to work hard."

Jin Liqun, the supervising chairman of [the People's Republic of] China's sovereign wealth fund.
http://english.aljazeera.net/programmes/talktojazeera/2011/11/2011114434664695.html
Well, we Americans are often overly sensitive and pad our words to avoid giving offense. It's clear that China does not suffer from this problem.

Aside: it's fascinating how quickly the Chinese have resurrected ye olde Confucian work ethic. This lecture from a former Red Guard (this is supposition based on his age) could have come from my grandparents.

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August 2013

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