Structural reforms and respecting European treaties are the two pre-requisites to reduce deficits in the long-term and boost the economy's potential growth rate which, at around 1%, is much lower than the government estimates (close to 4%). It is the French economy's ‘corsets' that are to blame for the country's weak growth (both potential and recorded) which itself generates the deficits and not the austerity policies made necessary by galloping deficits as partisans of the so-called demand- led policy think. The French economy is primarily ill because of its public finances.
Éric PichetRelated topics
austerity blame boost close demand economy european french galloping government growth ill led lower necessary policy potential public rate reduce structural think financesRelated quotes
The transformation of the automobile market was essentially complete in 1929. If Mr. Ford, in that pivotal year in the modern economy, still held stubbornly to his old concept in his new Model A, he was counterbalanced by Mr. Chrysler, who had come up from nowhere with tremendous vitality and with a market policy similar to General Motors'. The fact that Mr. Ford built nearly two million of the five million U. S.-produced cars and trucks sold that year was only incidental from the long-term point of view. it was a splurge, not the sign of a trend.
Alfred P. Sloan
We have long supported a carbon tax as the best policy of those being considered. Replacing the hodge-podge of current, largely ineffective regulations with a revenue-neutral carbon tax would ensure a uniform and predictable cost of carbon across the economy. It would allow market forces to drive solutions. It would maximize transparency, reduce administrative complexity, promote global participation and easily adjust to future developments in our understanding of climate science as well as the policy consequences of these actions.
Rex Tillerson
The curriculum (to a certain extent) and the practice of teaching, ignoring the policy of segregation or apartheid, could not offer preparation for service within the black community. By simply blindly producing pupils formed on a European mould, the vain expectation was created that they, in spite of the said national policy, would still be able to fill posts in the white community. This is that is meant by the unhealthy creation of white collar ideals and the causing of widespread frustration among the so-called learned natives.
Hendrik Verwoerd
The economy is doing fine-if you gauge it in traditional ways. The growth of GDP is 6.2%, which is good. [...] But do we compare Russia to developed countries or to a country like China that has the GDP growth of 9%-or oil producers like Azerbaijan with 12%, or Kazakhstan with 19%. This way, we see that Russia's achievement is more than modest. Under oil windfall profits, Russia's GDP should have grown by 15% to 16% in 2005. Once you dismiss the windfall profits, you see a poor quality of the economic policy that has proven negative to the tune of losing some 9% to 10% of the GDP growth.
Andrey Illarionov
Instead of resolving the problems of the poor and thinking of how the world can be different, some can only propose a reduction in the birth rate. ... To blame population growth instead of extreme and selective consumerism on the part of some, is one way of refusing to face the issues. It is an attempt to legitimize the present model of distribution, where a minority believes that it has the right to consume in a way which can never be universalized, since the planet could not even contain the waste products of such consumption.
Pope Francis
