Austeridade

."..Mr Hollande himself has acknowledged that the state has got too big. “Public spending has reached 57 per cent of national wealth. It was 52 per cent five years ago. Do we live better for it? No,” he said late last year". state has got too big.." Mas o economista americano Tyler Cowen tem outra opinião: "I suppose you could argue that the current French slowdown is due to the expectation of future spending cuts, but most of us would find this difficult to swallow.  I will also predict that — if and when the spending cuts come — they will be accompanied by a worsening of output and employment, if only because French labor markets are not very flexible.  Still, it would be odd to suggest that “austerity” is the root cause of the French economic problems rather than a symptom of other, deeper issues..."