economy
January 16, 2026
France’s economic miracle never came
Look at the way the French work, and you’ll start to see why “Macronomics” fell short. When Emmanuel Macron took office in 2017, he promised a French economic renaissance. His supply-side strategy aimed to slash taxes and curb public spending to spur investment and drive down unemployment. Eight years on, however, public debt has skyrocketed while GDP growth remains sluggish. So, what happened? And is France destined to economic decline?
TL;DR
- Emmanuel Macron promised a French economic renaissance upon taking office in 2017.
- His supply-side strategy focused on tax cuts and curbing public spending.
- The goal was to spur investment and reduce unemployment.
- Eight years later, public debt has increased significantly.
- GDP growth has remained sluggish.
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