• jpdumas007

Prof Rodrik response

Thank you for sending us your critique. We appreciate your candid views. But I must say that I disagree with your premise. The approach we take is indeed fully consistent with the diagnostic method proposed in HRV (2005), since it is based on a comprehensive statistical picture of the French economy and detailed attitudinal surveys of the French public. We identified perceptions of high unfairness, low social mobility, and lack of access to good jobs as critical “binding constraints” on the French economy and our proposals on taxation, good jobs, and trade address specifically these constraints. In a short piece, we could not do justice to the entire report. I would encourage you to read the full report, which is here:

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If we look at the data, UK misfortune is somewhat puzzling. Let’s assume that the Kwarteng’s mini budget amounted to an additional deficit (energy subsidy plus tax cuts) amounting to about £70 bn or 2