Editing History of France (section)

=== Economic crises: 1970s-1980s ===
By the late 1960s, France's economic growth, while strong, was beginning to lose steam. A global currency crisis meant a devaluation of the Franc against the West German Mark and the U.S. Dollar in 1968, which was one of the leading factors for [[May 1968 in France|the social upheaval of that year]]. Industrial policy was used to bolster French industries.<ref>{{Cite book |last=Maclean |first=Mairi |title=Economic Management and French Business: From de Gaulle to Chirac |date=2002 |publisher=Palgrave Macmillan |isbn=978-0-3337-6148-9 |location=London}}</ref>

The ''[[Trente Glorieuses]]'' era (1945–1975) ended with the worldwide [[1973 oil crisis]], which increased costs in energy and thus on production. Economic instability marked the [[Giscard d'Estaing]] government (1974–1981). Giscard turned to Prime Minister [[Raymond Barre]] in 1976, who advocated numerous complex, strict policies ("Barre Plans"). The plans included a three-month price freeze; wage controls; salary controls; a reduction of the growth in the money supply; increases in taxes and bank rates but a reduction in the value-added tax; measures to restore the trade balance; limits on expensive oil imports; special aid to exports; an action fund to aid industries; increased financial aid to farmers; and social security.<ref>{{Cite book |last=Frears |first=J.R. |title=France in the Giscard Presidency |date=1981 |publisher=George Allen & Unwin |isbn=978-0-0435-4025-1 |location=London |page=135}}</ref><ref>{{Cite journal |last1=Hibbs |first1=Douglas A. Jr |last2=Vasilatos |first2=Nicholas |date=1981 |title=Economics and Politics in France: Economic Performance and Mass Political Support for Presidents Pompidou and Giscard d'Estaing |journal=European Journal of Political Research |volume=9 |pages=133–145 |doi=10.1111/j.1475-6765.1981.tb00595.x |number=2}}</ref>

Economic troubles continued into the presidency of [[François Mitterrand]]. A recession in the early 1980s led to the abandonment of ''dirigisme'', in favour of a more pragmatic approach to economic intervention.<ref>{{Cite journal |last1=Sachs |first1=Jeffrey |last2=Wyplosz |first2=Charles |date=April 1986 |title=The economic consequences of President Mitterrand |journal=Economic Policy |volume=1 |pages=261–306 |doi=10.2307/1344559 |jstor=1344559 |number=2}}</ref> Growth resumed later in the decade, only to be slowed down by the economic depression of the early 1990s, which affected the Socialist Party.<ref name=":0">{{Cite book |last1=Levy |first1=Jonah |title=Developments in French Politics Vol.4 |last2=Cole |first2=Alistair |last3=Le Galès |first3=Patrick |date=2008 |publisher=Palgrave Macmillan |isbn=978-0-2305-3700-2 |location=Basingstoke |pages=1–21 |chapter=From Chirac to Sarkozy: A New France?}}</ref>

France's recent economic history has been less turbulent than in many other countries. The average income in mid-century grew by 0.9% per year, a rate which has been outdone almost every year since 1975. By the early 1980s, for instance, wages in France were on or slightly above the [[EEC]] average.<ref>{{Cite journal |last1=Card |first1=David |last2=Kramarz |first2=Francis |last3=Lemieux |first3=Thomas |date=1996 |title=Changes in the relative structure of wages and employment: A comparison of the United States, Canada, and France |url=http://www.crest.fr/ckfinder/userfiles/files/Pageperso/kramarz/card-kramarz-lemieux.pdf |journal=The Canadian Journal of Economics |volume=32 |pages=843–877 |doi=10.3386/w5487 |s2cid=154902220 |archive-url=https://web.archive.org/web/20200730215601/http://www.crest.fr/ckfinder/userfiles/files/Pageperso/kramarz/card-kramarz-lemieux.pdf |archive-date=30 July 2020 |access-date=5 December 2020 |number=4}}</ref>