Culture at the heart of the economic system
Here is a column written in mid-August 2025. I paid tribute to Joel Mokyr who has just received the Nobel Prize in Economics along with Philippe Aghion and Peter Howitt.…
Philippe Waechter's blog
The New Geopolitics – Part 2
Faced with a more competitive environment, the United States has sought to secure its partners. This approach has seemed brutal, particularly in trade negotiations since Donald Trump’s return to the…
The Shift of History – Part 1
World history is generally shaped by a leading country. This has been the case since World War II with the United States and earlier with Great Britain. This hegemon provides…
The Federal Reserve takes over
At its January 25-26 meeting, the US central bank confirmed that it would raise interest rates as of its mid-March meeting. Above all, it indicated that very soon after it…
Inflation continues, the Fed could weigh on growth
US inflation is mainly conditioned by the pace of the price of goods and that of oil. The rush of households on goods, while inventories were reduced, is the source…
Reflections on pensions in France
Discussions in France about retirement often give the impression that pensions have to correct a large part of the inequalities of the working period.They suggest an at least partial dissociation…
A robust French Economy despite the strike
The Markit survey for France does not suggest in December an inflection that can be linked to the social movement. The economy’s capacity to adapt is stronger than we imagine…
Brexit will take place on January 31
The British vote validates the choice of Brexit and the exit from the European Union on January 31, 2020. Boris Johnson is free to define his strategy. Boris Johnson’s huge…