Economic issues fuel European populism

Dissatisfaction and the rise of populism in Europe are linked to economic issues such as purchasing power, housing, and concerns about the future. Similar demands are found in many countries, indicating a broader trend.

Macron faces blame for France’s challenges

In France, some attribute these issues to President Macron, who has faced criticism for various policy decisions. Different political factions view Macron in contrasting ways—some see him as a leftist, while others perceive him as a neoliberal aligned with big business.

Economic changes since the 1980s

The economic landscape has changed significantly since the 1980s. In 1981, France experienced a left-wing government implementing progressive policies, such as reducing the work week and increasing the minimum wage. However, this led to high inflation and economic challenges, prompting a shift towards austerity measures.

Global capitalism and growing inequality

The current economic situation reflects a shift in global capitalism, where large corporations and wealthy individuals have significant influence. According to the 2026 annual report of the United Nations Development Programme (UNDP), global poverty is increasing, with 1.2 billion people in acute poverty. Inequalities within countries are also growing, with the top 10% of the world's population holding 75% of the wealth, while the bottom 50% hold only 2%.

France’s inequality and corporate power

In France, income and wealth inequalities have been somewhat mitigated by a redistributive system, but they are still increasing. The U.S. has seen a significant rise in wealth for the top earners, with the S&P 500 index rising from around 100 points in the past to over 7,700 points. Companies involved in artificial intelligence, such as Nvidia, have seen their market capitalizations soar, indicating a concentration of economic power.

France’s debt and corporate influence

The current economic challenges in France are exacerbated by high debt and deficit levels, with a ten-year interest rate crossing 5%. The government faces pressure to address demands for increased purchasing power without worsening the deficit. Meanwhile, large corporations are making significant financial moves, such as share buybacks and substantial investments, highlighting the growing influence of private capital.