Monday, May 7, 2012
Hollande: A Lucid Interview
François Hollande is quite lucid about the challenges he faces. In this interview, he expresses himself with clarity and grace. Let's hope that now that he is liberated from the constraints of campaigning, he will continue to demonstrate the grasp of issues that he demonstrates here. Note, in particular, his discussion of stimulus. He seems to be pinning his hopes on a European Investment Bank that will channel funds to productive investments rather than directly to end consumers--a combination of industrial policy and demand stimulus. This concept raises many challenges and difficulties, but it's a concrete proposal in the right direction.