The new French government and the economics of J.-B. Say

The forces of J.-B. Say seem to have overtaken France in the last couple of days. The front page of Le Figaro is filled with the Prime Minister (not the President – Republic anyone?) doing over his economic ministers and installing someone from the more market oriented side of politics. This Keynesian-socialist stuff is not working so they are about to embark on something new. These are my (free as in best guess) translations from the front page:

The Heads of Industry Applaud these Changes and Now Wait for Some Follow-up Action

And:

The Beliefs of the Prime Minister have Exasperated the Left

And:

Survey: the French Have No Confidence in the New Government

And:

The Unemployment Rate has Reached a New Record

There is Hollande who will go down with the ship one way or another but at least he seems to be trying to do the right thing. I, of course, am in the midst of a conference in which at least some of those are thinking the right way. The conference organisers have just put out a journal which is devoted to “Jean-Baptiste Say: et la liberation des forces de production”. Odd as it may seem, I have never been in the company of anyone at all who has had a strong appreciation of J.-B. Say and for the past two days I have been in rooms filled with them. Incroyable!

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