Report
Patrick Artus

The vicious circle of the French social model

There is a strong rejection of inequality in France, far stronger than in other OECD countries. This has led to large-scale redistributive policies and generous social welfare in France , but also to a high tax burden, especially on companies. This high tax burden (in particular high corporate social contributions) has led to a low employment rate, and therefore to high income inequality before redistribution, and hence an increased need to have large-scale redistributive policies. We see the vicious circle: the correction of inequality increases inequality, which increases the need to correct the inequality.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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