Economic policy after COVID in France: The temptation to exacerbate past mistakes

There is reason to fear that what many in France are asking of economic policy after the COVID crisis will only end up exacerbating economic policy mistakes of the past and the resulting structural problems besetting the French economy. For instance, should France: Further increase the weight of public spending when there is no visible link between it and the quality of systems of healthcare, education, housing assistance, etc.? “Tax the rich”, when the high weight of capital tax in France before the recent reforms had discouraged the French from financing companies? Hike corporate tax to pay for more generous redistributive policies, when a high corporate tax rate led to an abnormally low employment rate, which increases income inequality before redistribution? Policymakers should avoid falling for these easy options for political or symbolic reasons , when the right policies are well known: improve skills, modernise companies, increase the efficiency of the state, etc.