Marxist economics

Yesterday, I mentioned Marine Le Pen’s advocacy of the use of two currencies in France. Patriotic, salt-of-the-earth Frenchmen would use the French franc; elitist bloodsuckers would use the Euro.

Just kidding. Actually, the franc would be used for France’s “home economy.” The Euro would be used for international trade.

Le Pen was hard pressed to defend this seemingly inane proposal during her debate with Emmanuel Macron. This account by CNN Money is basically accurate:

During the debate, Le Pen struggled to defend her proposal to ditch the euro — a plan that has long unnerved investors. “We need to get our national money back, this is essential,” said Le Pen. “I want us to break free from the euro.”

Le Pen said that France could perhaps use two currencies: the euro and the French franc.

Macron countered by raising questions over how French workers would be paid — in euros or francs? And he asked which currency would be used to pay France’s creditors? (Ratings agencies say that Le Pen’s plan would result in a default.)

Le Pen did not appear to have a response.

In the unlikely event that Le Pen is elected, perhaps she can revive this idea of Groucho Marx:

Now why not give the seven cent nickel a chance? If that works out, next year we can have an eight cent nickel.

Think what that would mean. You could go to a newsstand, buy a three cent newspaper, and get the same nickel back again.

One nickel, carefully used, would last a family a lifetime.

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