Economic uncertainty is also dramatically affecting Brazilian politics. And a once placid, even predictable, presidential election campaign has been thrown into disarray by the death of the Brazilian Socialist Party candidate, Eduardo Campos, in an airplane crash in August.

Renzi and Valls along with Pedro Sánchez of Spain s Socialist Party are part of a broader trend. With the world economy growing slowly, many center left politicians are trying to mobilize markets and jump start growth while investing in jobs and skills.

And if taxes target the rich, and spending targets the poor, the multiplier can be especially high. But France s so called socialist government is lowering corporate taxes and cutting expenditures a recipe almost guaranteed to weaken the economy, but one that wins accolades from Germany.