The public sector in France is among the best financed in Europe. Taxes claim around 45% of all income earned in the country, but even that is not enough to finance all the government projects. The country also runs a public budget deficit of over 3% of GDP, putting the whole output of the French government around 50% of the whole economy.

With such largesse one would think that the services are quite good. Furthermore, coming from a country whose motto is “liberté, égalité, fraternité” one would also guess that the spending is directed at the little people.

Apple underwent a 7-1 stock split last night, such that shares that traded at $645 yesterday opened this morning at $92. Much of the media coverage took a playful tone, e.g., “Don’t freak out. Here’s why Apple’s stock is below $100.” I was particularly intrigued by the brief story on today’s NPR Morning Edition.