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Revisiting the French Economic Model: Lessons for Prosperity and Stability

Explore the French economic situation, challenges, and the failure of the "Third Way" approach in theory and practice. Discover the alternative path back to classical liberal values for peace and prosperity in France.

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Revisiting the French Economic Model: Lessons for Prosperity and Stability

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  1. Third way as a dead end:French experience Pierre Garello Aix Marseille University, IES-Europe, IREF M.R. Stefanik Conservative Institute Bratislava, March 2008

  2. Third way à la française • The situation in France • Sluggish growth and growing worries • The « Third way » in theory • What it is and why it does not work • The other way • Back to the French classical liberal school

  3. 1. The situation in France

  4. The situation in France : growth

  5. The situation in France: GDP per capita

  6. The situation in France: « Official »public debt

  7. The situation in France: the opinion of the 16-29 years old

  8. Is it possible to change society?

  9. Do you think your professional life will be bright?

  10. Is globalization source of opportunities?

  11. Are you ready to pay for the old generations?

  12. 2.The French way

  13. The situation in FR : public spending

  14. Public money: what for? • Level of public investment is low • Level of redistribution is high • Inefficiency of the public administration

  15. Recent illustrations of the French way • High price of housing • High prices in retail shops • Fake reform of higher education • The « no-reform » of the retirement pension scheme • A messy decentralization • A very centralized health care system

  16. 3. Why it does not work

  17. More public debt, more taxes

  18. More debt, less growth

  19. The logic of third way’s failure • The Complexity argument • pretence of knowledge • The Motivation argument • Public choice, time horizon • The destruction of the rule of law

  20. 4. The way to peace and prosperity « The State: this great fiction through which everyone believe they can live at the expenses of others » Frédéric Bastiat

  21. Few directions • Get your economics right: learn to see further down • Challenge the State’s achievement • Keep competition inside Europe • Stick to Principles rather than Pragmatism • Trust the values of freedom and responsibility

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