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The wonder of the United States is not waning. The New York stock exchanges continue to break records with some companies having valuations exceeding a trillion dollars, which has never been seen before. By way of comparison, the Paris-listed company with the largest capitalization, LVMH, (240 billion euros) barely exceeds a quarter of the value of the big stars of Wall Street. The new stars, supported by artificial intelligence and their suppliers, the semiconductor manufacturers, have dethroned the Internet giants. The exceptional success of business leaders like Elon Musk in electric vehicles and now in the space industry or Jeff ...
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The publication by INSEE of the mediocre results of the French economy in the 1st quarter with a 0.1% drop in GDP (against 0% in the first estimate) only confirms previous analyses. But past economic policy mistakes such as a family policy penalising those with above-average incomes or the desire to raise the retirement age while companies hardly recruit anyone over the age of 55 or the concentration of tax reductions on low wages which discourages the use of highly qualified jobs, are not enough to explain the structural weakening that the country is facing.
Bureaucratic inflation, which manifests ...
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The succession of bad figures concerning the French economy since the beginning of the year, zero growth, inflation above 2%, unemployment on the rise with a rate back above 8%, trade deficit that is not being reduced and finally public deficits and debt at worrying levels, has not given rise to sufficient reflection to identify the causes and suggest solutions. This is all the more disappointing given that major elections will now be less than a year away.
The discourse boils down to transferring the reasons for these obvious failures to others, those that preceded it (everything began to go ...
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Since the liberalization of trade and the internationalization of financial markets, central banks have become major players in the choice and implementation of economic policy. They have different missions and statuses depending on the country or continent. Of all, it is the European Central Bank (ECB) that has the greatest freedom of action, thanks to its independence enshrined in its founding treaty and the definition of its mission in its statute, to reduce and maintain inflation in the euro zone to a level below but close to 2%. It can then act to support growth and employment.
The US Federal ...
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Le nouvel Etat-stratège
Le dernier livre d'Alain Boublil, le nouvel Etat-statège (Editions de l'Archipel) est paru le 5 février 2014.
Le livre apporte les réponses de son auteur à la question qui est, en France, au centre de tous les débats politiques: "Que peut-on attendre de l'Etat aujourd'hui ? " Et il formule plusieurs suggestions sur l'exercice du pouvoir tirées de son expérience passée auprès de François Mitterrand. Observateur de l'économie mondiale comme conseil des nombreuses grandes entreprises qui ont fait appel à lui, il trace un portrait de la France d'aujourd'hui bien moins pessimiste que ce que l'on entend parfois, à condition que chacun fasse preuve de lucidité sur ses propres comportements.
Les exigences ont certes été exacerbées par la crise. Mais y faire face est de plus en plus difficile car l'écart s'est creusé entre les attentes de chacun et la réduction des marges de manoeuvres publiques du fait des règles internationales, de l'endettement et des contraintes environnementales.
En dix chapitres, Alain Boublil dresse un bilan sans complaisances, prend la mesure des possibilités et des limites de l'Etat et il ouvre des voies nouvelles pour l'action publique. Il évoque le sauvetage de l'euro, le fardeau de la dette et le ras-le-bol fiscal, l'Etat-patron de Colbert à Jean-Marie Messier, le retour du complexe vis-à-vis de l'Allemagne et les nouveaux outils de l'Etat-stratège dans la mondialisation face aux défis industriels, aux enjeux de la transition énergétique, à la "dictature du CO2" et à la révolution du gaz de schiste. Et il met en garde contre les dérives de l'Etat-spectacle, qui gènent l'efficacité de l'action publique et les facilités de l'Etat-guichet qui débouchent sur le clientélisme.
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5/06/2026
French version
The wonder of the United States is not waning. The New York stock exchanges continue to break records with some companies having valuations exceeding a trillion dollars, which has never been seen before. By way of comparison, the Paris-listed company with the largest capitalization, LVMH, (240 billion euros) barely exceeds a quarter of the value of the big stars of ...
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