Cheminade Finance: A Vision for a Productive Future

Jacques Cheminade, the perennial French presidential candidate, offers a distinctive and often controversial economic vision rooted in physical economy and long-term scientific advancement. His ideas, frequently dubbed “Cheminade finance,” stand in stark contrast to mainstream neo-liberal economic thought, emphasizing infrastructure development, space exploration, and a rejection of purely speculative financial activities.

A core tenet of Cheminade’s philosophy is the primacy of the “real” economy, focusing on the production of tangible goods and services. He advocates for large-scale public works projects, such as high-speed rail networks and advanced energy infrastructure, seeing them as catalysts for economic growth and technological progress. He argues that these projects create jobs, stimulate innovation, and enhance national productivity far beyond their immediate impact.

Cheminade is a strong proponent of a modern Glass-Steagall Act, separating commercial and investment banking to curb reckless speculation. He believes this would prevent the use of taxpayer money to bail out failing financial institutions engaged in risky ventures, directing capital instead towards productive investments. He sees the current financial system as dangerously detached from the real economy, serving the interests of a small elite at the expense of the broader population.

Space exploration plays a crucial role in Cheminade’s economic vision. He views it not as a frivolous expense, but as a vital engine for technological innovation and resource development. He argues that investing in space programs fosters breakthroughs in materials science, robotics, and other fields, leading to spin-off technologies that benefit the entire economy. He also believes that the potential for resource extraction in space could ultimately alleviate scarcity on Earth.

A key component of Cheminade’s finance is a long-term perspective, rejecting short-term profit maximization in favor of investments that yield benefits over decades. He advocates for government policies that encourage long-term planning and research, rather than reacting to immediate market pressures. This includes funding for basic scientific research, even in areas that may not have immediate commercial applications, as well as investing in education and training to ensure a skilled workforce for the future.

While his ideas are often considered outside the mainstream, Cheminade’s focus on physical economy and long-term investment resonates with those who believe that the current financial system prioritizes short-term gains over the well-being of society and the planet. His vision offers a potential alternative path towards a more equitable and sustainable economic future, driven by technological progress and focused on the needs of all people.