Word: litism
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Dates: during 2010-2019
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...Touati notes that this system has gone largely unaltered for 40 years, despite other changes that have taken place in the economy: nationalization, socialization, privatization and pro-market reforms. Grémont says that such enduring élitism is difficult to challenge in normal economic times, which is the main reason some French executives continue to fear that the current global recession could morph into something more serious: a 1930s-style meltdown capable of shaking the entire economic structure to its foundations. Were that to happen, chain-reaction bankruptcies of companies could force the French state to step...