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Schumpeter is alive and well in the Elysée
Hollande drops Keynes in favour of Schumpeter

Nicolas Sarkozy's Socialst challenger Francois Hollande will today unveil his economic proposals. According to Le Monde there are several circles of economists who have elaborated Hollande's economic policy proposals. Among the dominating figures are Harvard economist Philippe Aghion, Bruegel director Jean Pisani-Ferry, industrial policy specialist Elie Cohen and social policy expert Gilbert Cette, the paper reports. ,,The Socialists are today engaged in the transformation the Social Democrats in Scandinavia have already gone through several years ago", Les Echos quotes Aghion. ,,The Keynesian model of of relaunching consumption would today aggravate our external deficit. Our thinking is now much closer to Schumpeter who emphasizes the role of innovation for growth in the medium to long term."

(26 January 2012)

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Sat Nov 1st, 2014 at 11:25:46 AM EST
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