Frogs don\’t get economics, do they?

the nationalisation of energy companies (as energy sources are public goods)

No they ain\’t. They are both rivalrous and excludable so they just ain\’t public goods.

8 thoughts on “Frogs don\’t get economics, do they?”

  1. Equally, your title could have been:

    Politicians don’t get economics, do they>

    noting that you have been ribbing on the Osborne recently, who does not appear to be particularly Franch, or:

    Socialists don’t get economics, do they>

    The latter with apologies to the sainted Chris, of course. But no worse a generalisation for him being the outstanding exception.

  2. Melenchon is the Trot equivalent of old man Le Pen. Bonkers but very amusing. I doubt that his adoring fans are thinking about his “ideas” though.

  3. Ah, I’ve dragged my weary eyes down the rest of the article.

    Mélenchon’s growing number of supporters view it as common sense and salutary: a 100% tax on earnings over £300,000;

    And that will raise revenue? All it will do is prevent anybody subject to French tax from having “declarable earnings” however you define those of more than £300,000 (or do they mean €300,000?)

    full pensions for all from the age of 60;

    Ah, right. All? I move to France at 59 and suddenly become entitled to a full French state pension? How, exactly, will this be afforded. Oh, I forgot, silly me. The 100% tax on earnings above 300,00o of whichever currency.


    Oh, and

    the ecological planning of the economy, the core of Mélenchon’s political project


    Anybody want to take a small bet on France being bust before the end of the putative first Mélenchon term as Overlord, Master and Dictator for Life of the Pelophylax?

  4. Amongst the other leftie tosh I was amused by the wish to oust the ‘Fat cat bosses’ who ‘may leave France; they will be replaced by younger and more competent ones who will work for a fraction of their wages.’
    Of course, the thrusting, upcoming entrepreneurs will never want to join the real world and be paid a globally attractive salary, let alone build capital in the companies they create.

  5. Amongst the other leftie tosh I was amused by the wish to oust the ‘Fat cat bosses’ who ‘may leave France

    They may well. French bosses aren’t paid anywhere near as well as their foreign peers. The CEO of Total is paid a fraction – meaning a low percentage – that the bosses of Exxon, Chevron, and BP enjoy.

  6. I’ve had a look at the Front de Gauche website, it says they want:

    Assumer la maîtrise publique, sociale et démocratique du secteur de l’énergie, seule garante de la transparence, de l’indépendance, de l’expertise et de la qualité des installations et des exploitations. À cet effet, nous créerons un pôle public de l’énergie (EDF, GDF, Areva et Total renationalisés). Citoyens et salariés seront associés à sa gestion et à son contrôle.

    There’s nothing I can see there about energy being a public good, so perhaps Mélenchon is not responsible for the misuse of the term.

  7. I fear that Philippe Marlière’s command of English is the problem here – it’s perfectly reasonable for a non-native English speaker to think that “public goods” means “goods that should be delivered by the public sector” rather than “goods that are non-rivalrous and non-excludable”.

    Indeed, there is a case that that is the meaning of the phrase in the English used outside the economics profession by native speakers.

    There is a huge difference between “this foreigner used English economics jargon incorrectly” and “this foreigner doesn’t understand economics”.

    And in any case, it’s Marlière that your criticism is aimed at, not Melénchon.

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