Friday, July 6, 2012

Hollande not off to a good start

You know, there is an almost admirable insanity to raising the minimum wage into the teeth of a high unemployment rate. But if you are going to sell your soul to the devil, really, you should get a better price.

More practically, what sort of advisers are so inept that they did not foresee this reaction?

1 comment:

László Sándor said...

FWIW, Piketty and Saez advised Hollande's party before. They even had time for a policy book on the French public finances.

Not bad in terms of academic PF, don't you think?