France’s first socialist president in two decades, Francoise Hollande, was elected on the promise to tax the rich, promote social justice, free France from the “yoke of austerity,” and (as a sop to the nationalist right) restrict immigration. From the campaign trail, Hollande preached that, instead of Germany’s (Angela Merkel’s) budget restraint, France needed more government spending to jump start its economy.
Hollande’s 2012 campaign was a close twin of Barack Obama’s 2008 “Hope and Change.” As the head of a socialist party that traces its roots back to Marx, in contrast to Obama, Hollande felt no need to conceal his anti-business views and redistributional intent. Once in office, Hollande promised to restore theegalite lost in the twenty years of conservative rule.
go to forbes.com
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