January 20, 2014

Hollande's Supply-Side Nonsense

Dean Baker, The Guardian

The Associated Press

French President François Hollande startled many of his supporters last week, along with fans of evidence-based economics everywhere, when he rejected modern economics in favor of the sayings of an early 19th-century French economist. After winning the election on a platform that the government needed to fill the gap in demand created by the collapse of asset bubbles, Hollande repeated the old line from Jean-Baptiste Say that "supply creates its own demand."

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TAGGED: Global Economy, France, Francois Hollande


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