|Krugman Demands Socialist France Lead Global Economy|
|by Tom McGregor||Sun, Aug 31, 2014, 10:05 PM|
Nobel Economics prize winner Paul Krugman claims that the French economic recession model is the correct method to lead the global economy.
According to the Houston Chronicle, "How does France fit into this picture? News reports consistently portray the French economy as a dysfunctional mess, crippled by high taxes and government regulation. So it comes as something of a shock when you look at the actual numbers, which don't match that story at all. France hasn't done well since 2008 - in particular, it has lagged Germany - but its overall GDP growth has been much better than the European average, beating not only the troubled economies of southern Europe but creditor nations like the Netherlands. French job performance isn't bad. In fact, prime-aged adults are more likely to be employed in France than in the United States."
In Krugman's editorial for the New York Times, he hails French socialism as the solution for everything. He laments that a 75 percent tax rate on millionaires is just too low, nevertheless.
As reported by the Houston Chronicle, "And if the European economy continues to stagnate or worse, what will become of the European project - the long-term effort to secure peace and democracy through shared prosperity? In failing France, Hollande is also failing Europe as a whole - and nobody knows how bad it might get."
Krugman insists that the path to prosperity would be higher tax rates.
To read the entire article from the Houston Chronicle, link here:
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