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Mitterrandian reformism, or the great transformation of declining french capitalism

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  • Rémy Herrera

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 - Université Paris 1 Panthéon-Sorbonne)

  • Zhiming Long

    (THU - Tsinghua University [Beijing])

Abstract

We analyze how the French left led by F. Mitterrand and the Socialist Party failed to "change the lives" of the French. We describe the difficulties encountered by the "relaunch" policy of 1981 and the change of course carried out, first with the inflection to austerity in 1982-1983, accompanied by devaluations of the franc, then the turn to neoliberalism and financial markets in 1984-1985, with the emphasis placed on business recovery and European integration. This betrayal of the left's program, leading to social inequalities and "new poverty," partly explains the return of the right to power as early as 1986.

Suggested Citation

  • Rémy Herrera & Zhiming Long, 2025. "Mitterrandian reformism, or the great transformation of declining french capitalism," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-05432514, HAL.
    • Handle: RePEc:hal:cesptp:hal-05432514
    Note: View the original document on HAL open archive server: https://hal.science/hal-05432514v1
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