Inside America

I guess that a title like this will boost my blog’s statistics. But it’s not the (only) point of my post today. Yes, I was amazed – and amused – to learn that the American “adult entertainment industry” (let’s be PC) was actually lining up to get its share of the economic stimulus package offered by the government to help businesses cope with the crisis. But more importantly, I’m tired – really tired – to hear and read over and over from friends and in the American media that the American economy is going down “the French road”, with the underlying meaning that France is a socialist-like country that became a model in subsidizing its businesses.

France might not be a model of pure capitalism, but is certainly NOT the socialized economy most Americans imagine. As a recent example, French banks did not call for a bailout and did not get a dime from the French government to face the crisis (France handled the financial crisis by offering a (remunerated) state guarantee to lenders rather than giving out tax money without control). Neither did the car makers so far (none of them are state-owned by the way). As for the porn industry, well, I must admit that it might get “subsidized” by the French government investing in quality communication infrastructure that helps bring the high-speed Internet, cable TV and telephone for less than 30 dollars a month to a majority of the French population. But looking at my Internet bill here, I’m sure most Americans would appreciate subsidizing the porn industry that way too.

Bottom line, whether in France or in the US, there’s the same indecency in defending free markets, small government and low profit taxes when the economy is booming, and calling the government to rescue when markets are turning bad. Cutting jobs for the sake of global competitiveness in good times, while pretending that a government bailout would preserve jobs in bad times. Lobbying for tax cuts in the oil industry in exchange of R&D investment in alternative energies when gas prices are low, and give maximum profit to shareholders when gas prices are high … while still not providing taxpayers with any evidence of progress in alternative energy supply.

Privatizing profits and leaving losses to taxpayers is not capitalism nor socialism. It’s greed. And France is absolutely not different from America in that regard. The difference is that there has been more losses to socialize than profits to privatize in my country over the past decade. Unfortunately, it looks like America’s going to catch up soon … while remaining a capitalist economy for those who make profits. Just like France.