Explaining France, a reader request - Marginal REVOLUTION
By which I mean this: relying solely on prejudice and snippets of information, it would seem to me that France should be an economic backwater. The rate of taxation, cost of labor, early pension age, large public sector, high welfare payments, etc., none of this suggests a highly dynamic and performative economy fit for the 21st century. Certainly, it would seem, nobody would use France as a model for restructuring their economy, but the country does seem to emerge from each crisis more or less unscathed, and remains highly prosperous, with an admirable quality of life. Why is this? What are they doing right? Are they just lucky? Or (more likely) am I just poorly informed? In all fairness, previous talk of a "Franco-German economic alliance" has dwindled and Germany is now seen as the key to EU financial decision-making. And France has gone from the world's number one cultural power to a minor player. Still, the French economy has held up relatively well. A few points: 1. The French
France. Explain By which I mean this: relying solely on prejudice and snippets of information, it would seem to me that France should be an economic backwater. The rate of taxation, cost of labor, early pension age, large public sector, high welfare payments, etc., none of this suggests a highly dynamic and performative economy fit for the 21st century. Certainly, it would seem, nobody would use France as a model for restructuring their economy, but the country does seem to emerge from each crisis more or less unscathed, and remains highly prosperous, with an admirable quality of life. Why is
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