The new French government and the economics of J.-B. Say

The forces of J.-B. Say seem to have overtaken France in the last couple of days. The front page of Le Figaro is filled with the Prime Minister (not the President – Republic anyone?) doing over his economic ministers and installing someone from the more market oriented side of politics. This Keynesian-socialist stuff is not working so they are about to embark on something new. These are my (free as in best guess) translations from the front page:

The Heads of Industry Applaud these Changes and Now Wait for Some Follow-up Action


The Beliefs of the Prime Minister have Exasperated the Left


Survey: the French Have No Confidence in the New Government


The Unemployment Rate has Reached a New Record

There is Hollande who will go down with the ship one way or another but at least he seems to be trying to do the right thing. I, of course, am in the midst of a conference in which at least some of those are thinking the right way. The conference organisers have just put out a journal which is devoted to “Jean-Baptiste Say: et la liberation des forces de production”. Odd as it may seem, I have never been in the company of anyone at all who has had a strong appreciation of J.-B. Say and for the past two days I have been in rooms filled with them. Incroyable!

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3 Responses to The new French government and the economics of J.-B. Say

  1. H B Bear

    A market solution where farmers drive sheep down the Champs Elysees at the mere threat of a cut in EU subsidies, a labour market with vast youth unemployment while others are effectively immune from dismissal and you need government approval to put your goods on sale.

    Don’t hold your breath.

  2. Robbo

    France has been an economic basket case for many decades and the only consistent thing about the way they face up to this shambles is their inconsistency. Whenever someone comes up with a strategy to reduce their massive and ever growing debt they are pilloried by the political left and reviled as destroyers of the community because the needed solution always means sacrifice and pain. The claim that Hollande “at least (he) seems to be trying to do the right thing” begs the question of for whom is he trying to the right thing? He is just another weird old leftie gutless populist. From my perspective Hollande is about as useful as tits on a bull and deserves the growing hatred he is now getting from the majority in France. The sad thing is that when Hollande is voted out of office he will almost certainly be replaced by someone of equal low quality.

  3. How about that? 50 years of Leftist policy which failed every step, and now they start to look at a solution that works?

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