the past couple of years, France, like numerous European countries, has
experienced deteriorating development and economic tests. Under previous Leader
Sarkozy, the nation employed austerity procedures to challenge the budget shortfall
and public debt. Nevertheless, France’s Gross domestic product has persisted nearly
unaffected since 2011 and the redundancy rate remains high. To strengthen the
French economy, existing Leader Macron faces the task of cutting public expenditure
while encouraging job creation.
this period, the French administration, along with its main trade partner
Germany, encouraged amplified European economic amalgamation. France was one of
the first countries in the European Coal and Steel Community and the European
Economic Community, predecessor administrations to the European Union. Additionally,
France was one of the original states to accept the euro and the French economy
remains extremely unified with Europe today.
France’s post-war economic approach was effective,
and France entered “Les Trente Glorieuses” (the glorious 30), a time of
enhanced economic development, with important advances in efficiency, Gross domestic
product and real wages. In 1983, mounting public debt, inflationary pressures
and internal and external imbalances pushed the French administration to move
from “dirigisme” to an era of “rigor” and into a time of
privatization. The administration started to remove from direct economic interference,
privatizing some state-owned initiatives and assuming some more market-focused strategies.
Still, odds and ends of “dirigisme” can still be found in the French
economy nowadays as the administration continues to hold significant holdings
in many crucial areas.
the Second World War, the center-left administration of Charles De Gaulle set
up an economic strategy of ‘dirigisme’ (to direct) while upgrading the nation.
The government took control of some key businesses, counting transport, energy
and public services, and established a preparation agency to control economic movement.
The original nationwide economic growth strategy, the ‘Monnet plan’, and following
plans became a distinguishing characteristic of French post-war economic strategy.
Furthermore, De Gaulle started the building of a welfare state in France and
set up important organizations such as social security and commissions.