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Home Publications Blogs Beat the Press NPR Celebrates France's President For Accepting Mass Unemployment

NPR Celebrates France's President For Accepting Mass Unemployment

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Friday, 29 August 2014 07:03

A Morning Edition report on French President Francois Hollande's decision to reshuffle his cabinet and eliminate members who complained about the cutbacks in government spending that are slowing growth and destroying jobs, treated him as a potential hero for trying to restructure France's labor market. This coverage directly contradicts economics, since there is no plausible story whereby the economic gains from whatever restructuring Mr. Hollande is able to engineer will be more than a small fraction of the losses it is incurring due to austerity being imposed by Germany on the whole euro zone. This austerity will have cost France several trillion dollars in lost output by the end of the decade.

Comments (7)Add Comment
Vichy government returns
written by Ho Ho, August 29, 2014 7:35
Hollande is a poor socialist. Nonetheless, he eagerly pleases the German supply siders who are more than happy to supply the means of slowly sucking the health out of the French economy. By showing this type of backbone he confirms that he is a sycophantic spineless sap.
Paul...
written by medgeek, August 29, 2014 8:13
...excoriated Hollande's policies in today's column and in a blog post a few minutes ago, and rightly so. He also thinks that the American left has been less supine than European counterparts and offers possible reasons. Anyone here have ideas about that?
Hollande's last move far to be widely supported
written by philippe, August 29, 2014 2:35
If you can read French a visit to a few newspapers like Liberation, Le Monde or Rue89, will show you many people disagree completely with Hollande who is already at the bottom in the polls. The same goes for Valls. Ask Piketty or Todd what they think... this is pathetic...
......
written by djb, August 29, 2014 3:08
Bush and company hijacked public media for wall street and installed right wing economists
Another cliche-ridden NPR story about France
written by Michael Foley, August 29, 2014 3:13
What is it about France that makes American journos shift their brains into neutral and just go with the myths?

On the economics, as Tobin once said, it takes a lot of Harberger triangles to fill an Okun gap.
At least Krugman came clean on the minimum wage, Low-rated comment [Show]
Nixon II
written by Squeezed Turnip, August 31, 2014 4:39
"We are all supply-siders now." -- Hollande

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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