We could right now learn a thing or two from the Socialists in France. You heard that right – I find inspiration in the left-wing government of the Fifth Republic where growth has stalled and unemployment tops 10 percent. For a group whose first instinct was to slap a 75 percent marginal income tax rate on high earners, a government-sponsored report just out on how to stem the country’s competitive decline is a revelation. Commissioned by France’s new leadership, the paper recommends 22 measures to “stop the slide” and deliver what the author describes as a “competitiveness shock.”
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