Economy
The municipality contains an industrial area for the electrical engineering and the production of iron, steel, glass and chemicals. Charleroi is in the center of a coal basin. Even so, due to the widespread loss in industrial power in the area since the 1970s, the area has suffered some of the highest unemployment and poverty rates in Europe for most of the 1980s and 1990s. However, from the early 2000s, the overall economy of the area has diversified to include health care, transportation and telecommunications. Nevertheless, the poverty rates are still significant.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)