An interview with François Morin
François Morin was technical adviser to Jean le Garrec at the State Secretary for Public Sector Expansion from 1981–1982 and an adviser to Prime Minister Pierre Mauroy.
Maya Adereth: What kind of society did you envision when you first became politically active?
François Morin: When I was finishing my PhD thesis in Algeria, I spent two years reading Capital. And to this day, I think Marx has many insights into the nature of power relations in contemporary society. But when I returned to France, my supervisor, Henri Bartoli, encouraged me to situate Marx’s insights within a practical framework. I went to the Chambre Syndicale des Agents de Change, where I began studying the shareholder structure of large banking and financial enterprises. To my surprise, I understood nothing of what was in the files. So I spent years learning to penetrate this world of accounting and finance. In 1974, I published my first book, The Financial Structure of French Capitalism, which allowed me to participate in ideological debates surrounding the left’s Common Program. When the left gained power in 1981, I was asked to advise Pierre Mauroy on bank nationalizations, and from 1985 to 1994, I served as an adviser and member of the Council of the Banque de France. In my new book, I recount the unique period between May and September of 1981 and the internal government debates which took place. On the one side were hardliners who advocated a strong break with liberal globalization and a nationalized French economy. On the other hand were reformists who argued that it was necessary to account for the changing global context in which policies were being made. The reformists were more cautious about expanding the public sector through nationalizations.
MA: What were the characteristics of the French economy that you outlined, and how did they shape the contours of this early debate?
FM: The debate within the left was hardly rooted in the realities of the French economy. Structurally, the French economy had undergone significant transformations in the 1960s and 70s, primarily through the consolidation of large corporations. For some, this corporate consolidation represented an alliance of domestic capital that was necessary to prevent the advance of foreign capital, particularly from the United States. The employers alliance consisted of Paris-Bas and its allies in banking, industry, and nationalized insurance companies. On the other side was the Suez Group, also composed of banking and industry, which saw the prospect of an alliance with American capital as an enormous opportunity. This was the position of Giscard d’Estaing, then President of the Republic. The conflict between the Gaulish RPR and Giscard Re- publicans represented the divisions between the banking and financial elites in the country.
On the left, the issue was less about globalization, and more about increasing state influence over these consolidated corporations. These companies significantly shaped public life, and yet the public had no influence on them. This was the motivation behind nationalizations.