The British decision, approved by a referendum, to exit from the European Union, the Brexit, has become a reference as a mistake made by the people. It is beginning to pay the consequences. Growth has slowed, the currency has been devaluated by 13% and both internal and external deficits have jumped. It is just the start because if United Kingdom is still a member of the UE, at least until 2019. But negative anticipations will soon leave the place to negative decisions: companies will reduce investment and some will even leave the territory. In some few years from now, British ...

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To the opposite of what we frequently hear, the end of inflation is good news: it will not announce a long stagnation period but corresponds to the new situation of developed economies. It can lead to a long phase of prosperity if consequences have been identified and appropriated policies have been adopted.

Among the causes of inflation first appears, in theory, the supposed scarcity of raw materials and the difficulties to adjust supply and demand. Even if we don’t come back to the pessimistic assertions of the “Club de Rome” which, in the middle of the Seventies, maintained, without ...

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Anglo-Saxon media enthusiasm about France is good news. It breaks with the pessimistic and even alarmist forecasts of international institutions about the situation of the world economy.  Imbalances and excessive indebtedness of public and private agents are making to fear the worst, especially regarding China. So, 2018 would carry the risk of a new and major international crisis. We should not be surprised. Economists as these major institutions didn’t put us on our guard just before the 2007-2008 crisis and they took a lot of time to understand what was going on. They don’t want to be accused ...

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