As a rearguard of the neoliberalism triumphant in the 1990s, Emmanuel Macron and his supporters came to power by a combination of circumstances. They embarked right away on the structural adjustment program that decades of resistance had persistently slowed. The blitzkrieg was a success. Employment law, taxation, privatizations, etc. Playing on the psychological advantage of a surprise election victory, the new team moved forward simultaneously on all fronts, unrolling without hesitation an agenda entirely structured by the eternal watchwords of capital — competitiveness and attractiveness for investors.

Reforms were proceeding at such a frenetic pace that, by a domino effect through the institutions, they threatened to break up what remained of the social compromise that has distinguished France since the mid-twentieth century. That was indeed the objective. Emmanuel Macron had made total determination his trademark. Last spring, he told Fox News that there was “no chance” he would back down on SNCF reform because, he said, “If I stop, how do you think I’ll be able to modernize the country?”