Signs Economic Commentary for 16 July 2007

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Jedi
On Sarkozy ... & Anglo-American style capitalism in France

"With Sarkozy doing his best to implement Anglo-American style capitalism in France, it is a good time to remind people in France what they will get if they let him: a more psychopath-friendly society."

I still think it's a little more complex...

Please have a look to this link from the FT.
Sarkozy secretly tried to rewrite rules on Europe
http://www.timesonline.co.uk/tol/news/politics/article1975217.ece
Specialy the part: "It included commitment to the internal market but omitted the phrase “where competition is free and undistorted� ..."

and from the FT again
Competition has served Europe well; Sarkozy has not
http://www.ft.com/cms/s/85a2d268-2346-11dc-9e7e-000b5df10621.html


A good analysis of Sarkozy here...
http://www.williampfaff.com/modules/news/article.php?storyid=227
"He is not really an economic liberal in the European sense either, pro-business and a free-trade advocate— as in the liberal parties across Europe. He advocates some deregulation of the French labor market, cuts in bureaucracy, and reduction of debt, but he also believes in "economic patriotism" and government interventions in industries important to the French economy. As economics minister, he arranged the state rescue of Alstom, France's huge power and high-speed rail manufacturing conglomerate. He has also said that it was a mistake for France to have allowed the Indian Mittal Steel group to buy Arcelor, the French-owned Franco-Belgian steel giant. He wants the European Central Bank to be required to respect European political and industrial interests in setting interest rates."

and France
'The French problem has been a well-recognized failure to deal with recent social and structural difficulties, including immigrant unrest and persistent unemployment. However, France is a leading exporter of construction, municipal, and financial services. Air France–KLM is the biggest and most successful European airline. France possesses Europe's most extensive high-speed rail infrastructure and is the principal exporter of high-speed rail technology.
France remains in other respects the leading high-technology country in Europe. With Russia absent from civil aviation and British Aerospace (BAE Systems) now effectively an American company, the Pentagon its largest customer, France arguably is the second-ranking aerospace power in the world, concentrating much of Western Europe's defense, aerospace, and electronics industries, including Airbus and Arianespace (which controls 40 percent of the world's satellite-launching market)—both of them French initiatives in which France remains the most significant actor. Moreover, the Dassault company is a principal military and business jet producer and a leader in computer design. France is also the world's leading exporter of nuclear energy technology and nuclear electricity plants (78 percent of France's own electricity is nuclear-generated).[10] It will take a while for the economy to crash.
France underperformed the EU average in GDP growth last year but outperformed Germany for the entire 1996–2005 period (2.2 percent average annual growth compared with 1.1 percent for Germany). It is expected to be above the EU average for all of 2007 with a forecast 2.4 percent growth. At 2.2 percent, inflation is not an issue. At just under 10 percent, unemployment, although improving, remains stubbornly above the EU average, the result of France's much-discussed and real difficulty in introducing greater flexibility in its labor markets.[11]'

....

"With Sarkozy doing his best to implement Anglo-American style capitalism in France, it is a good time to remind people in France what they will get if they let him: a more psychopath-friendly society."

The first part is , imho, wrong, still this doesn't change anything about his mental health.

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