The failure of representative democracy
There is no coherent voice or message emerging from the movement: The state cannot provide more public services and simultaneously lower taxes. In the streets, the movement cannot avoid being hijacked, to its dismay, by anarchists or vandals. It is going nowhere. The challenge to the government and the political class is immense. If I am right, the sources of the problem are old and deep.
The French “Yellow Vest” Movement and the (Current) Failure of Representative Democracy
By: Olivier Blanchard – Peterson Institute
The success of the Paris agreement
According to the gilets jaunes, rising fuel prices hit workers who depend on cars to get to and from work, particularly in the countryside. The dispute has therefore sparked a rift between the city-dwelling ‘elite’ and the rural poor. […] In our view, the gilets jaunes movement represent an interesting case of what risks becoming an increasingly frequent trend in Europe, as environmental and climate policies continue to be strengthened towards achieving the targets assumed under the Paris Agreement.
What the “gilets jaunes” movement tells us about environment and climate policies
By: Simone Tagliapietra, Georg Zachmann – Bruegel
Some information on the French economy
The labor market
Despite persistent high unemployment, recruitment difficulties have already started to arise in France. The current unemployment rate is approaching its structural level, but wages have been relatively sluggish.
Is the French labour market under pressure?
By: Françoise Drumetz, Rémy Lecat – Banque de France
The public debt
[S]ince 2010, France’s fiscal deficit – both primary and overall – has declined far more slowly and public debt has continued to increase to well beyond 90% of GDP
Conditions for a long-term reduction in France’s public debt ratio
By: Guy Levy-Rueff – Banque de France
