FRANCE: One Year with Pay

The governments of all Western industrial nations face a socioeconomic dilemma: in order to fight inflation and the social disruption that it causes they must restrain demand—and risk triggering a recession that would stir even more social unrest. Last week France went further than any other nation has gone to defuse that danger. At the urging of President Valery Giscard d'Estaing, the Patronat, or federation of French employers, agreed with the country's five major unions on a new plan that in effect will guarantee a full year's pay to any French worker laid off for reasons beyond a company's control.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!