The French economy has avoided the worst in 2022, thanks to the public expenditures measures which have allowed to supporting enterprises during the covid-19 pandemic and household with the sharp increase of energy prices after the invasion of Ukraine by Russia. It has also taken profit from the European Central Bank cautiousness which has until now increased its rates in a very moderate action and has avoided that the indebted countries were confronted with a financial crisis as it happened in 2012. Growth figures for 2022 have been received with satisfaction but that one must be moderated.

INSEE has given ...

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In France, adopted actions in the name of the protection of the environment prioritize more interdictions and do not enough appeal to innovation. Low emissions zones have been instituted in several big cities and the circulation of vehicles which are not complying with some criteria have been forbidden. The sale of vehicles with thermal engines will be prohibited from 2035. At last, homes which need energy consumption above some levels will be impeached to be rented.

But the putting into application of these measures will arouse strong oppositions and it is not sure that they can be maintained. Atop of ...

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Economic science is frequently based on reasonings. They could reveal themselves right and the authorities which have taken the decisions which were based on them and their populations are taking the benefits. But they can also lead to failures with heavy consequences; this is not new and this not only regards France. A century ago, Keynes, then a member of the British delegation which was negotiating what will become the Versailles Treaty resigned because he thought that the sanctions imposed to Germany were too heavy and could send the country into a crisis. We know what happened after, with the ...

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