Multiple parties are jockeying for position in the aftermath of France's seismic snap election. The leftist New Popular Front (NPF) insists its ideas should be implemented.

Multiple parties are jockeying for position in the aftermath of France’s seismic snap election. The leftist New Popular Front (NPF) insists its ideas should be implemented.

France’s left wing New Popular Front (NPF) - now the largest group in parliament - has called for a prime minister who will implement its ideas including a new wealth tax and petrol price controls.

The leftist alliance secured the most seats in the recent French elections but fell short of the 289 needed for a majority in the National Assembly, France’s lower house of parliament.

President Emmanuel Macron’s Together bloc came in second and Marine Le Pen’s far-right National Rally (RN) party finished third.

France’s parties are now jockeying for position and it’s unclear exactly how things will shake out, but the NPF has insisted it will implement its radical set of ideas.

  • steeznson@lemmy.worldEnglish
    3·
    4 months ago

    I think we agree about the nature of scientific enquiry, how it is all based on inductive reasoning and cannot provide the certainty of mathematics. Additionally, it looks like we agree that the Laffer Curve has been used to justify bad policy in the past.

    However, I don’t think that the theory has been debunked in the way you are describing. There is broadly a difference of opinion between Keynesian economists who are skeptical of the theory and then Supply-Side economists who endorse it; and then a whole spectrum of views in the middle from Behavioural economists or other schools of thought who are more ambivalent.

    Academics who do support the view have done empirical studies over the years that they believe suggest that the Laffer Curve is real, see:

    • Romer & Romer, 2007: The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
    • Mertens & Ravn, 2013: The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States
    • Trabandt & Uhlig, 2009: How Far Are We From The Slippery Slope? The Laffer Curve Revisited

    It’s a matter of live debate in the field regardless of your opinion of the theory.

    • orrk@lemmy.worldEnglish
      12·
      4 months ago

      However, I don’t think that the theory has been debunked in the way you are describing

      sure, you have listed a few papers, and having skimmed some of them I’m a bit iffy to their relevance mainly as to what numbers they take as indicators what of and at least one had an issue where one of the more prominent indicators they picked is heavily influenced by other outside activity more so than the taxes.

      but here’s the thing, if it was just wrong all the time, it would have predictive power, the fact that it sometimes seems to be correct, and other times it being counter to predictions or being mostly non changing means that it’s not a useful model, and a useless model is trash, and honestly I’m highly skeptical of supply side economics, it has produced relatively little in terms of economic stability, nor sustainability.

      personally, I’m more inclined towards Post-Keynesian demand side economics, and unlike supply side economics, they have actually made predictive models that actually have predictive power