Emmanuel Macron prepares for 2022

Macron prepares for 2022 by inaugurating a new prestigious cenacle of economists

The head of state bombs Jean Tirole and Olivier Blanchard at the head of a commission of 26 economists who will work on the post-health crisis challenges: the climate, inequalities and demography. Work that could - also - fuel its project for 2022.

 

Emmanuel Macron wants to gain height. Tomorrow Friday May 29, the president will set up a high-level economist’s commission, co-chaired by two French people: Jean Tirole, the 2014 Nobel Prize winner, at the head of the Toulouse School of Economics and Olivier Blanchard, l former chief economist of the International Monetary Fund, now a researcher at the Peterson Institute for International Economics. Objective assigned by the Head of State: gamberger on the challenges of the climate, inequalities and demography with the submission of a report by the end of 2020. "These are three long-term structural challenges, which are not not directly linked to the health crisis, we stress at the Elysée. We must not forget them. "

This cenacle will bring together 26 economists, chosen by the Tirole-Blanchard duo: French people like Philippe Aghion (Collège de France) and Jean Pisani-Ferry (European University Institute), who inspired the presidential project, but also Laurence Boone (OECD) , Christian Gollier, number two at the Toulouse School of Economics and Daniel Cohen (Ecole Normale Supérieure). The younger generation is also in demand with the two French Harvard stars: Stefanie Stantcheva and Emmanuel Fahri. Renowned foreign researchers have also agreed to participate in the operation, such as Paul Krugman, the 2008 Nobel Prize winner and columnist for the New York Times, Larry Summers, who was advisor to Barack Obama and Bill Clinton or Dany Rodrik, researcher in the United States. United and long-standing critic of the excesses of globalization. 

A cenacle accused of being single-color

But this assembly will not fail to be accused of being too single-color, with significant absentees. Esther Duflo, who has just obtained the Nobel Prize, and Thomas Piketty, world renowned expert on inequality. Two economists who criticize the policy of Emmanuel Macron: Duflo has just voted for the reinstatement of the wealth tax and Piketty strongly denounces the lowering of taxes for the wealthy (ISF and capital taxation), even deeming that Macronist politics is similar to that of Donald Trump. Contacted by Challenges, Thomas Piketty said that nothing had been offered to him. And, anyway, he has "nothing to do" in a "Macron fan club".

Why create this prestigious think tank in full health crisis, which generates the worst world recession since 1929? The initiative to start thinking about the very long term may seem surprising when all governments are working on the right response to the shock. And where Bruno Le Maire, the Minister of the Economy, is refining a recovery plan aimed at stemming a recession estimated at 8% this year. According to the Elysee, "the two reflections are not contradictory". Besides, the Mayor has regular meetings with economists, some of whom are part of this new inner circle, to build his plan. "In December, when the experts give their conclusions, all the cartridges will not be drawn. Their proposals could be integrated into the stimulus measures, especially at European level", justifies the Elysée Palace. 

Risky political timing

But Emmanuel Macron, as usual, wanted to surprise. At a time when the world is paralyzed by the surge in unemployment, it is tackling the major challenges of the planet. What can he get out of it? The timing of this political operation is risky. By receiving the proposals of these world leaders in late 2020, the head of state will not be able to launch major reforms in the last 18 months of his mandate. Rather, he should use this suggestion box to develop a presidential project that changes economic software, as he promised in his speeches to the French on March 12 and 16. It remains to convince the French, who are showing great distrust towards him currently, according to polls, to give him time again to make these changes.