It may be the land of Voltaire, Benjamin Constant and Fréderic Bastiat, but it is rare that a liberal today can hope for much from the politics of modern France. In this case, in terms of who I hope to win the French presidential election, the first round tomorrow, I am considering negatives as much as positives. In 2007, I thought Nicolas Sarkozy, who represents Union for a Popular Movement (UMP), the largest centre-right party in France, would bring the economic reforms France needed. He delivered on some of this program, such as raising the retirement age from 60 to 62, but he has otherwise been disappointing.
One of the dangers in times of recession is a rise in nativism. This manifests itself in a retreat to the nation at the political level. In economic terms, this is protectionism and a preference for produce of the country. But for any country to be competitive, it must be willing to compete in a global world. If French people are not buying enough French products, it is a signal that they must adjust either their quality or price. Firms seek to grow, and they can only expect foreign markets to be even less forgiving than those of their compatriots. This principle does apply at a European Union level, where President Nicolas Sarkozy wants a “But European Act”, but more so yet at a national level, where he would seek such a measure in lieu of European protectionism.