France's economy minister Emmanuel Macron is in Las Vegas this week reminding the technology community that entrepreneur is a French word, reports USA TODAY.
"In recent decades we (the French) have always favored protecting jobs to protecting people," Macron, 36, told USA TODAY on Sunday as he prepared to attend the Consumer Electronics Show (CES). "And that has been a mistake.
"In France, we have ... always (been) afraid and upset by the positive destruction of past jobs," Macron said. "Really, creation and innovation are part of the French DNA."
In his role as France's most senior economics official, Macron is leading a European delegation to CES that includes representatives from more than 100 start-ups.
The major trade show held each January sees hardware and software companies from around the world unveil new and enhanced technologies in the hope they will come to dominate international marketplaces. Among the major talking points at this year is the Internet of Things — essentially, products such as refrigerators and watches that are connected to the Internet.
For Macron, this year's event is an opportunity to talk up his country's efforts to shake off negative impressions of France as a place to do business. Skeptics, including the European Union, have accused successive French governments of presiding over an over-regulated economy resistant to market-friendly policies that would boost growth and investment.
"As a country, France has three key advantages," Macron said. "It has a well-trained workforce, lots of young people in a vibrant democracy and excellent infrastructure. However, if you look at the CAC 40 (France's benchmark stock index) at least 90% of the company names on there are the same ones from 35 years ago. Compared to the Nasdaq or FTSE (in Britain) the lack of movement is very noticeable," he said.
"Now the responsibility of our political and economic elite is to push people to take more risks, to innovate, to try, perhaps to fail," Macron said.