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I've just had time to catch up with what was being said.

Gosh. I couldn't believe that a "Socialist" president would lead the Say's revival.
Actually, to be fair to Say, he realised by the end of his life that he had been wrong (and he didn't quite have as easy an access to data). To revive such a fallacy, now of all time is...

I don't think I'll be able to defend Hollande much now. Though, of course, the right wing is professing the same kind of drivel. Where is this leading us?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Thu Jan 16th, 2014 at 01:34:43 PM EST
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France by the Numbers - NYTimes.com

"You shall not crucify mankind upon a croissant d'or." That was Alan Taylor's response (in correspondence) to François Hollande's embrace of Say's law -- he literally said that "supply actually creates demand" -- together with a shift to, again in his own words, supply-side policies. Kevin O'Rourke also weighs in, as did Ambrose Evans-Pritchard . Mark Thoma is your go-to site for the rapidly growing avalanche of horrified snark.

The amazing thing to me, aside from Hollande's haplessness, is the extreme pessimism that has evidently enveloped French elite opinion. You'd think that France was a disaster area. Yet the numbers, while not good, just aren't that dramatic.

Also follow the link to Francesco Saraceno's blog.

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 16th, 2014 at 02:10:38 PM EST
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Where is this leading us?

See that rat hole over there?

by rifek on Fri Jan 17th, 2014 at 01:22:36 AM EST
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