The new budgetary law is the illustration

The original banking and financial crisis have highlighted failures and the monstrosities from what is called the culture of the result, subject now a sort of public abhorrence, it results in his triumph in the private sector and public sector. And his victory is the most deadly feature of the political misfortune: without that they become aware, she led voters in two camps in the presence, to blindly join the system of ideas which inevitably has the effect of implement in depth the methods and practices of the culture of the result. It is not closely related to this widely shared belief that, "for so little that it provides the", such and such anticipated and desirable objective (concerning security, education) can be achieved It lies at the heart of the modern drama. I was promised me some time to devote my last regular column to the "Echos": thirty-the six hundred sixth series began on 2 April 1993.

It was a not very distant time when Keynes lovers interested in the history of Keynesian economics. It is this history to discover the founder (and quickly recognized as such) text of the "culture of the result." In February 1943, the American economist Abba Lerner, a disciple fanatical and dogmatic Keynes two or three times cited in these chronicles, published in the journal "Social Science" an article entitled: "Functional Finance and the Federal Debt. "The central idea, he writes, is that policy budget, both for expenditure and for the imposition, for the loan for the repayment of the debts for the issuance of money for the destruction of money, all must be conducted only into the results that these actions have on the economy, and not such traditional doctrine on the merits of such mode of financing to such other.".

According to the "new principles of functional finance", the priority responsibility of the Government will be to maintain the total of the expenditure on goods and services at the level of production potential. Thus will be eliminated the risk of inflation and the risk of underemployment. Lerner concludes this first "corollary" of the financialisation of the economy through fiscal policy: never more it does lift tax for the primary purpose of paying the expenses of the State. ". The loan but especially the snowboard ticket - "printing of money" - will be this means "more appropriate" (sic): redemption now current by the banks of the State Fund is equivalent to a creation monetary ex nihilo. The objective of the taxation will be, in the event of overheating of the economy, withdraw from the pocket of the consumer taxpayer money. Conversely, a lowering of taxes will be justified to compensate for a failed request. The illusions to the Lerner on the ability of the State to determine its interventions on the (considered as self-evident) "assessment" of the needs of the economy and the results have become the common prejudices of our time. The new budgetary law is the illustration. But the determination of liquidity has evolved into flood to boost demand. Fashion in the 1980s in the United States academic debate: Keynes is a Keynesian or a lernérien The culture of the result first arose in a reflection on the public sector. Private sector, the profit is in essence the result of good management. Indeed a predetermined objective.

One day, a former member of the majority in the business told me: "one who does not know English and Spanish that sits on our Board of Directors makes us lose a lot of time: it requires deliberate French."That the leaders of large companies have abandoned the national language is one factor among many others lack of motivation of employees. Jean de Kervasdoué happening for the best social security specialist argues that the difficulties of the health economics began with the sudden decline, from the 1970s, religious personnel. He calculated that to replace the work of a good sister, needed five nurses of the "civil". According to the CEO of a large group, a coaching motivated "multiplied by ten" ("image", says) the pace of development of a branch. Keep this idea: the dominant ideology, derived from a purely quantitativiste approach of economic activity and the result is a considerable economic progress, therefore, the improvement of the purchasing power. Since the State abandoned the anti-lernérien of balanced budget principle, he has more money for schools. Since banks are sprayed liquidity, the banking system lives under the threat of a loss of its liquidity.