Making sense of the French 2017 presidential election.

1. 1981
Nationalisation of 40 banks (95% of banking sector)
Nationalisation of industry (15% of private sector capital)
Minimum wage +10%
Family allowances +25%
Wealth tax (tax as % of GDP already 40% under VGE)
39-hour week
5th week paid leave
Retirement at 60
Price controls
Exchange controls
Public spending +27.5%
Deficit x3
National debt +50%
Trade deficit + 100%
Devaluations 1981, 1982, 1983
Amnesty for illegal immigrants
Naturalisation of all immigrants

2. Political Culture
Social transformation through
violent conflict
Public opinion tolerant of revolt
Inability to share power
Strategy set by technocratic elite
Campaigns fought on reform,
change, break with the past
Political party business model
Party is a vehicle to get a
candidate elected President
No party policy document but a
visionary project often published
in book form prior to election.

3. Technocracy
ENA alumni have filled over one third of French cabinet positions
since the 1960s.
Presidents
Valéry Giscard d'Estaing
Jacques Chirac
François Hollande
Prime Ministers
Laurent Fabius
Michel Rocard
Edouard Balladur
Alain Juppé
Lionel Jospin
Dominique de Villepin
Candidates 2017
Emmanuel Macron
Nicolas Dupont-Aignan
Absolute certitude as to policy that will
never be called into question, new
information that challenges their beliefs
will not be considered.
Cartesian rationalism:
Form over substance.
World-view grounded in Keynesianism.
French politicians are champions of
political U-turn: appeasement and decree

5. Reduce deficit by €100bn.
Tax cuts
Abolish wealth tax
Axe 35-hour week
Raise retirement age to 65
Immigration quotas
Law & order
Reform of business policy
Deregulation

6. Stability pact moratorium
Universal revenue €750
Consolidated income tax
Tax private assets, robots
Humanitarian visa
Vote for immigrants
Vote for prisoners
Discrimination police
Recognition of Palestine
Legalise cannabis

7. No program [02.02.2017]
Reform payroll tax
Retirement 60-67
Working week 30 hours +
€500 culture voucher at 18
Fund UB from tax revenue
EU finance ministry
EU investment budget
End state of emergency
Military operations - UNO

8. Immigration
Law and order
National security
Withdrawal from euro
Referendum on Frexit
Reform of business policy
Definancialization
National industrial strategy
Strategic protectionism

9. Strengths
• First mover
• Coherence
• Public opinion
• Constituencies
Weaknesses
• FN legacy
• No allies
• Media
• Experience
Opportunities
• Decay of France
• Voter fatigue
• Brexit effect
• Terrorism
Threats
• Republican
Front
• EU
• Globalists

10. Conclusion