Blind Decades

France is often described as one of the last Western economies unable to reform itself in the face of globalization. Yet its economy has not fallen by the wayside and has even resisted the great recession that began in 2008. By interlinking historical, economic, and political factors and by comparing France with other nations, this book explains the puzzle presented by the development of France. Understanding France's economy requires downplaying the usual policy injunctions-demands for less state control and less rigidity in the labor market-and instead stressing the importance of constructing a long-term industrial strategy.