Does inflation theory determine public policy recommendations? An MCA to chart French economists’ perspectives on Mendès France’s monetary levy
Abstract
Pierre Mendes France proposed a plan to withdraw a significant portion of the money supply to prevent hyperinflation. Drawing on a broad array of original publications, this article highlights the diversity of positions that French economists adopted regarding the PMF plan. It establishes a typology that traces the key factors influencing an economist’s decision to support or oppose the plan. A combination of quantitative (MCA) and qualitative methods reveals that economists’ recommendations on the monetary contraction proposal were shaped by three key factors: their theoretical framework, their assessment of the economic climate, and their political orientation.
Fields of Study & Subjects
Monetary Policy and Economic Impact
Economic Theory and Policy
European Monetary and Fiscal Policies
Publication details
- Journal / source
- European Journal of the History of Economic Thought
- Publisher
- Informa UK Limited
- Pages
- 1–36
- Publication date
- 22 February 2026
- Language
- EN