Recently, European Union. Additionally, France was one

Recently, France,
like numerous European nations, has fallen to worsening growth and economic
conditions. Under the previous administration, the nation implemented rigorous procedures
to test the economic shortfall and community deficit. Nevertheless, the Gross
domestic product has persisted nearly unaffected since 2011 and the redundancy proportion
stays sizeable. Strengthening the budget of France, the current Leader of
France Macron is left with the challenge of cutting public spending along with
promoting jobs being created.

During this period,
the French administration, along with its main trade partner Germany, encouraged
amplified European economic amalgamation. France was one of the first countries
in the European Coal and Steel Community and the European Economic Community, predecessor
administrations to the European Union. Additionally, France was one of the original
states to accept the euro and the French economy remains extremely unified with
Europe today.

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France’s post-war economic approach was effective, and France entered
“Les Trente Glorieuses” (the glorious 30), a time of enhanced
economic development, with important advances in efficiency, Gross domestic
product and real wages (Figure 2). In 1983, mounting public debt, inflationary
pressures and internal and external imbalances pushed the French administration
to move from “dirigisme” to an era of “rigor” and into a time
of privatization (Figure 3). The administration started to remove from direct
economic interference, privatizing some state-owned initiatives and assuming
some more market-focused strategies. Still, odds and ends of
“dirigisme” can still be found in the French economy nowadays as the administration
continues to hold significant holdings in many crucial areas.

After the Second
World War, the center-left administration of Charles De Gaulle set up an
economic strategy of ‘dirigisme’ (to direct) while upgrading the nation. The government
took control of some key businesses, counting transport, energy and public
services, and established a preparation agency to control economic movement.
The original nationwide economic growth strategy, the ‘Monnet plan’, and following
plans became a distinguishing characteristic of French post-war economic strategy.
Furthermore, De Gaulle started the building of a welfare state in France and
set up important organizations such as social security and commissions.