STILL LOSING THE LONG WAR:

More than ever, the French economy is at the center of the global debate about how far one can push the limits of state size and control in a capitalist democracy. To those on the left, France's generous benefits and strong trade unions provide a formula for a more inclusive welfare state. To those on the right, France's oversized and intrusive government offers only a blueprint for secular decline. For the moment, the right looks right.

Once nearly the economic equal of Germany, France has fallen well behind over the past decade, with per capita GDP now about 10% lower.

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