Nicolas Baverez: "Takeover of Carrefour, statist populism"

The great transformations of history always entail a redefinition of the role of the State: the First World War engendered the totalitarian State;

the crash of 1929 imposed public intervention to stabilize capitalism and invented the Keynesian regulation which presided over intensive growth after 1945;

the oil shocks of the 1970s brought about the emergence of globalization.

The 2008 crash followed by the Covid-19 epidemic provoked the return of the state in force and called for the construction of a new standard of capitalism.

The new hierarchy of nations that emerges from the shocks of the early twenty-first century will largely depend on their capacity to effect these changes.

France, which has paid for its refusal to adapt to the new situation born of globalization and the changeover to the euro with four decades of stalling, is about to miss this new turning point.

This is evidenced by the a priori veto opposed by the Minister of Finance to the offer to purchase Carrefour by the Quebecer Couche-Tard

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