Picketty: Of productivity in France and in Germany
If we calculate the average labour productivity by dividing the GDP (the Gross Domestic Product, that is the total value of goods and services produced in a country in one year) by the total number of hours worked (by both salaried and non-salaried employees), we then find that France is at practically the same level as the United States and Germany, with an average productivity of approximately 55 Euros per hour worked in 2015, or more than 25% higher than the United Kingdom or Italy (roughly 42 Euros) and almost three times higher than in 1970 (less than the equivalent of 20 Euros in 2015; all figures are expressed in purchasing power parity and in 2015 Euros, that is after taking into account inflation and price levels in the different countries)