Economics and Finance All books
Jean-Paul Betbèze
French people's economic fear
France has economic possibilities, but it remains blocked in several areas. Although the country's leaders are aware of this, they seem unable to make the necessary reforms to move forward. France seems to be the prey of fears that paralyse it, but which have benefited a new class of economic as well as social rentiers who constitute a powerful economic, ideological and political group. These new rentiers are fully cognisant that the defence of their acquired privileges is not a practical long-term solution - as has been shown by rising deficits, decreased competitiveness and job losses. The author argues that it is necessary to make changes and implement reforms - and to do so it is essential to understand and overcome existing fears. It cannot be expected that everything will be changed at once, but some initial efforts must be made. The single reform that will fix everything does not exist, he says, but this is hardly an excuse for refusing to make a start. In other countries, programmes for economic reform are being implemented. Yet France is only beginning to consider such reforms. The object of this book is to provide a greater understanding of the present situation, in the form of a how-to manual. A ruthless analysis of some of France's psychological blocks, apprehensions and economic fears, this book can be regarded as a sort of economic psychotherapy. In addition, the author provides a critique of the false solutions that hinder modernisation and proposes his own solutions for change and reform. Jean-Paul Betbèze is a professor of economics at the University of Paris Panthéon-Assas and a member of the French prime minister's Council for Economic Analysis. He is a consultant to the president and the C.E.O. of a major bank and the author of Les Dix Commandements de la finance, which was awarded the Risques-Les Echos Prize in 2004.
Robert Boyer
General Theory of Capitalism is it possible?
Robert Boyer is a leading figure of the regulationist school of economics, which believes that capitalism requires external, political, monetary and social regulations, and that the capitalist economy cannot be reduced to the self-regulating laws of the market. In this book, he proposes a general theory of capitalism, from two angles. First of all, he argues that there are several models of capitalism - not just one. America's ultra-liberal capitalism is unlike German capitalism, which is characterised by the fusion between banks and businesses, just as it is unlike French state-interventionist capitalism and Japan's capitalism of consensus. Secondly, in order to understand how capitalism works, every aspect has to be considered - not just the market but also political and social institutions (the State, central banks, unions, etc.) and the conventions they create among themselves (salary agreements, etc.). Robert Boyer is a research fellow at the Centre National de la Recherche Scientifique, a director of studies at the Ecole des Haute Etudes en Sciences Sociales and a member of the French prime minister's Council for Economic Analysis.
Nicolas Véron, Matthieu Autret, Alfred Galichon
Crise in Financial Information Accounting and Capitalism
Enron, Andersen, Worldcom: although these companies have stopped dominating the headlines, the shock waves they sent through the business community in 2002 have not yet subsided. The belief that accounting is an exact science has been shattered, while economic relations are upset by the knowledge that financial information may be untrustworthy. Yet the market economy profoundly requires relevant and reliable information about the activity and financial situation of businesses. Taking into account the increasing strength of capital markets and international investors, the authors outline the basic elements that could constitute a new, balanced system of accounting that would accompany the necessary changes in capitalism, particularly in France and the rest of Europe. Nicolas Véron, an engineer and high-ranking civil servant, is the founder of Etudes et Conseil pour l'Information Financière (ECIF). Matthieu Autret is an expert currently working for the European Commission. Alfred Galichon is a doctoral candidate in economics at Harvard University.