In Lyon, worried experts denounce the mediocrity of the economic debate in France

Gathered at the Economic Days in Lyon, economists and researchers warn of the risk of France’s downgrading, held back according to them by a lack of innovation, investment and strategic vision. They also deplore the mediocrity of the political debate.

Researchers and economists gathered in Lyon for the Economic Days, which take place from Tuesday November 4 to Thursday November 6, are worried about the country. François Villeroy de Gahlau, the governor of the Bank of France, Gilbert Cet, the president of the Pension Orientation Council, but also three French Nobel Prize winners, Jean Tirole, Esther Duflo and Philippe Aghion are present to debate.

Almost all of these specialists warn of France’s difficulty in innovating, investing and attracting talent. Not to become too poor or downgraded in an increasingly fierce international competition, while Europe is caught between China and the United States. They also question our ability to limit our spending, reduce our debt, to maintain a certain autonomy and sovereignty.

Most of the personalities present share the words of Philippe Aghion, Monday on franceinfo who said: “dismayed by the intellectual and economic level of certain deputies, who understand nothing about the economy.” They are disappointed, annoyed to see the mediocrity of certain debates and they are saddened to see politicians using the economy as an instrument of electoral battle.

Certainly, the budgetary discussion is a high point in our political life. French tradition also dictates that the parliamentary groups, which vote on the budget, are considered in the majority, but this year is particularly delicate! Economists regret that their science, their subject matter, is so instrumentalized, caught in a pincer movement, and that votes in the chamber are above all guided by alliances and short-term electoral strategies, rather than by the effectiveness and relevance of the measures. They regret, for example, that the budgetary debate is so consumed by taxation of the richest and the Zucman tax, to the point of erasing all other subjects. Namely how France should think, build its energy and industrial policy, how can it improve the quality of its schools? Or even reform its social model so that it is sustainable.