Can the French Economy be Reformed?

Echoing an article by Charles du Granrut, “Growth by Decree?”, published in these pages in May, Émile Quinet returns to the question of the reform of the French economy. As he reminds us, everyone – or almost everyone – today agrees on the diagnosis: France is in trouble and major reforms are urgently needed, particularly in the economic field. Most of the (generally very competent) experts who have examined this question also take a similar view on the prescription for the French economy: a more flexible labour market, lower government deficits, more efficient systems of education and research etc.
On the other hand, it is when it comes to administering the treatment – and hence to implementing reforms – that things get sticky: either no real solutions are offered, the recommendations that are made lack finesse or the measures get nowhere on account of the various deadlocked elements in French society. Here, Émile Quinet identifies three major obstacles: French reform projects often have no implementation plan; communication between experts and public opinion is poor; and, lastly, French people have a very low level of understanding of economics. These, in his view, are the three major aspects that need to be improved if there is to be a hope of going beyond the mere repetition of old shibboleths in the area of economic reform.