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12 mars 2007

U.S. economists : the French economy is strong but it suffers from several negative phenomena

A month before the first round of presidential elections in France, where the economic situation plays an important role in the battle between the candidates, american nobel laureate economists, have criticized the performance of the French economy.

They that the French economy suffers from several negative phenomena: The lack of flexibility on the labour market, rising average wages and excessive taxes imposed on businesses. These experts also see that the french are least willing to work among the peoples of Europe.

In this context, Aidmund Phillips, Nobel Laureate in 2006 and defender of freedom of labour among companies, said that the French are least willing to work within the European Union. Phillips believes that Europeans in general don't think any more about work as a way to enjoy life.

For Robert Solow, Nobel Prize in 1987 for his theory of economic growth, he believes that from productivity point of view, the performance of the French economy is strong. "The limitation of working hours to 35 hours per week is a wrong step", he says.

Meanwhile, Gary Becker, Nobel laureate in 1992, is convinced that the inflexibility of the french labour market french is paralysing the functioning of the economy in general. He highlights that France needs to implement more reforms in this field. For Becker, the average salary in France is an "excessive generosity". He calls for giving the companies more flexibility so they can delete jobs that do not go hand in hand with their development.

According to Edward Prescott, 2004 Nobel Prize, the performance of the French economy is "good", but suffers from "fiscal pressure". He notes that if France reduce the level of taxs to the same level established in the USA, it will not affect the revenues of he government. He explains that after a transitional period, the productive capacity of France will increase by 40%, which would offset the difference in tax revenue for the french government.

Anthony Samuelson, Nobel Prize in 1970, sees that the french economic model is the least efficient among the European economies. He considers that France has not adapted itself to the new realities of the global economy: "France must accept the renunciation of social justice and consider the removal of certain privileges granted to the manpower", he stated.

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