In 1992 Francis Fukuyama published "
Summarised at Wikipedia LINK as "the advent of Western liberal democracy may signal the endpoint of humanity's sociocultural evolution and the final form of human government." and "The end of history means liberal democracy is the final form of government for all nations. There can be no progression from liberal democracy to an alternative system."
And from 1992 to 2008 the world experienced a massive growth in development, individual wealth and "third world" movement upwards from utter poverty. In late 2008 as a result of a combination of leftist dogma and capitalist greed and shenanigans a substantial
It is arguable whether further government intervention, which was a major cause of the recession, was the right economic medicine, rather than letting the marketplace heal itself was the correct remedy but that was the course chosen during the Obama administration.
That socialists, specially hard core leftists which made up the base of Francois Hollande's incoming government in France won the 2012 presidential election on a strongly anti-capitalist program.
Rather than see the root cause of that country's stagnation was its outmoded statist economy with its ridiculous early ritrement age, short working week archaic employment practices, and government involvement in ownership, the socialists saw the problem in the capitalist class who needed to be punatively taxed to ensure an even bigger welfare state,
The "end of history" struck back. Below are excerpts from an article by Ty Andros (full article is at Market Oracle LINK Following that,as presented in the Wichita Eagle is the end political result which is a sharp hard dose of reality. The Hollande government now has decided that the "anti-capitalist class rhetoric must cease and that capitalists, who fled the country to seek less punitive tax rates as any sensible person would, should be encouraged to assist in get the economy moving again.
It is a sorrow and a pity that a country like France should have been so wedded to such outdated and economically stupid doctrines to the point that president Hollande is the most hated politician in France, and the government has to undertake a humiliating reverse of course (whilst blaming "The EU"). Hopefully Fukuyama's lesson has finally sunk in, not only in France but also with the American electorate who have an opportunity to advise the Obama administration this November that the lesson is understood by the voters and it is time for "Hope and Change" to change. If not this November then most certainly in 2016, otherwise what France is undergoing could happen with much worse ramifications world-wide