The Decline of France

2013-09-03 French Decline

This article is over a week old, but still relevant. Part of the subtext of the broad left vs. right dichotomy in America politics is the whole question: should we follow the European model or not? Of course there isn’t just one “European” model, but France is often held up as an exemplar of what to do by the left (socialized healthcare) and also what not to do by the right (overbearing labor regulation).

In either case, the fate of France is of interest, and this article describes the grim reality.

At stake is whether a social democratic system that for decades prided itself on being the model for providing a stable and high standard of living for its citizens can survive the combination of globalization, an aging population and the acute fiscal shocks of recent years

These are high stakes indeed.