Banlieues Economists

Having read Mr. Krugman in The New York Times, [these youth] have been persuaded that there is a chronic lack of demand in the French economy that they have decided to stimulate by burning cars. What better stimulation, indeed, could be imagined? The roughly 40,000 cars burned a year (as I have said, no one knows the precise figures) provide employment for thousands of people. The cars have to be replaced, so manufacturing is encouraged; service industries such as sales and insurance are likewise given a fillip. When M. (soon to be president) Sarkozy called the rabble who rioted in 2005 “scum,” he should really have thanked them for their presciently Keynesian conduct.

Read it all here.

And remember: 99.995% of cars in France are NOT burned on new year’s eve.

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