 The Logic and Limits of Desinflation CompetitiveFrederic Lordon Oxford Review of Economic Policy, 1998, vol. 14, issue 1, 96-113 Abstract: How could it be that, starting with a Keynesian-Marxian economic programme, the Socialists decided in 1983, two years after coming to power in France, to adopt a diametrically opposed economic policy? The desinflation competitive, which has been maintained for fifteen years, comprises an almost classic conservative policy, substituting nominal stability, wage restraint, and public finance discipline for increased consumption, nationalizations, and devaluations. This major shift, in fact, corresponds to the acknowledgement by the Socialists of the new rules of opened and internationalized economies. The desinflation competitive was certainly necessary in the early 1980s to correct severe imbalances. However, it appeared more and more irrelevant and counterproductive as inflation disappeared and unemployment kept on rising. The failure of the desinflation competitive either to bring about disinflation, other than through brutal market adjustments, or to stop the rise in unemployment, reveals the inability of the French Socialists to build up genuine social-democratic institutions and policies. Copyright 1998 by Oxford University Press. Date: 1998 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:oup:oxford:v:14:y:1998:i:1:p:96-113 Access Statistics for this article Oxford Review of Economic Policy is currently edited by Christopher Adam More articles in Oxford Review of Economic Policy from Oxford University Press and Oxford Review of Economic Policy Limited |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.