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At least, you live in the UK and didn't have to listen to Elie Cohen today, trotting the "offer driven" economy (no demand needed) and openly rejoicing at Hollande officially echoing this line during today's press conference...
by Bernard (bernard) on Tue Jan 14th, 2014 at 05:14:00 PM EST
Well, it's 5.25, I'm in the Eurostar lounge, and indeed the very words "socialisme de l'offre" on display on the Figaro front page bothered me very much.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Wed Jan 15th, 2014 at 12:25:50 AM EST
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Come on, don't you know that "supply creates demand" as Hollande said?

We're all supply-siders now.

</gag>

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 15th, 2014 at 01:25:33 AM EST
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We have regressed to Say and the aggregate supply/aggregate demand model built on his basic macro view.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jan 15th, 2014 at 10:37:32 AM EST
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On the contrary, I think the gagging is just beginning.
by rifek on Fri Jan 17th, 2014 at 01:19:23 AM EST
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Cyrille:
the very words "socialisme de l'offre" on display on the Figaro front page bothered me very much.

Don't worry: it's as bad as it looks.

by Bernard (bernard) on Wed Jan 15th, 2014 at 03:47:37 PM EST
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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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