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And don't forget Jean-Baptiste "Supply side" Say earlier this year:

Supply-Side Hollande - WSJ

"We need to produce more, and better," Mr. Hollande told his country last month, while announcing plans to cut payroll taxes and rein in public spending. He added: "Action is therefore needed on supply. Yes, supply! This is not contradictory with demand. Supply even creates demand." Who knew Jean-Baptiste Say was French?

The Assimilation of François Hollande is Complete | Benjamin Studebaker

If the French thought their 2012 election of socialist François Hollande over former president Nicolas Sarkozy meant that they would have their Keynes and avoid austerity, they have been proven fatally wrong. Hollande has just announced plans for a €50 billion austerity package, a cut of 4% of France's GDP. He has promised to cut taxes on businesses by €30 billion, but this will come in the form of the elimination of a requirement that French businesses fund a family welfare program.

[...]

What is Sarkozy Hollande's argument? He makes appeal to Say's Law:

The time has come to solve the main problem of France: production. Yes, I said production. We have to produce more. We have to produce better. So it is on supply that we must act. On supply! It is not contradictory with demand. Supply creates demand.

Emphasis Added.

by Bernard on Sat Nov 1st, 2014 at 12:54:52 PM EST
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So, why did this happen?

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 Sun Nov 2nd, 2014 at 03:32:57 AM EST
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The Socialists have always wanted to be recognized as Serious PeopleTM and this is the gospel Serious PeopleTM do profess.
by Bernard on Sun Nov 2nd, 2014 at 03:40:12 AM EST
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Then we truly are fucked because the Socialists did the same in the 1930s.

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 Sun Nov 2nd, 2014 at 03:49:08 AM EST
[ Parent ]
Hollande: France's answer to Tony Blair and Bill Clinton.
by rifek on Sat Nov 8th, 2014 at 09:31:14 PM EST
[ Parent ]

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