Lloy17 Mar 2019 14:42
Le Maire’s call to arms reflects a panic spreading in Western democracies about voter anger. The next sting could come at European Parliament elections in May, when euro-skeptic politicians are set to make further gains.
Read More: Why European Parliament Elections Suddenly Matter
“Capitalism works when many people have a chance at doing reasonably in the market,’’ said Raghuram Rajan, former governor of India’s central bank, who’s written a book on “communities’’ and rethinking capitalism. “We wasted 10 years since the financial crisis not really focusing on these things and hoping that one stimulus after another will somehow elevate growth.’’
Headline Improvement
Gini coeffecient shows improvement in income inequality
Source: International Monetary Fund
In France, the government’s knee-jerk response to the Yellow Vests was to throw money at the problem, but there’s also been a realization that that alone won’t cut it.
Macron, barely polling ahead of Marine Le Pen’s far-right National Rally, started what he called a national “grand debate” that’s taken him and his ministers around the country to hear people’s concerns.
“You can’t fight populism with promises of more of the same,” said Societe Generale chief economist Michala Marcussen.