Think about it. Nationmaster ranks France as #18 in terms of GDP per capita, at $36,500 per person, yet France works much less than most developed nations. They achieve their high standard of living while working 16% less hours than the average world citizen, and almost 25% than their Asian peers as per UBS. Plus, if you visit France you’ll also realize that their actual standard of living is probably much higher than GDP numbers would indicate.
Thus, if one were to divide France’s GDP per capita by actual hours worked, you’d probably find that the French are achieving some of the highest returns on work-hours invested. Labor Alpha, if you will.