Emmanuel Macron's neoliberal revenge

France is currently going through a rather difficult period of reforms carried out by President Emmanuel Macron in order to bring the economy out of prolonged stagnation and restore the country's «greatness» in the world. Macron's reform initiatives, based on monetarist recipes and the concept of supply-side economics, are considered in the context of the global trend towards economic liberalization that began in the 1970 s and included most developed and developing countries. Until now, changes in France have been slow, with a great lag from other European countries and accompanied by mass protests of the population, because they run counter to the principles of the post-war dirigiste socio-economic model. France went through a long period of liberalization and retreat of the state, and the French model of the market economy has acquired a kind of hybrid character: it is no longer a dirigiste, but also neither a liberal model of the classical (Anglo-Saxon) type. The President set a task to bring the neoliberal transformation of the French socio-economic model to its logical end by reforming institutions that do not meet modern challenges. The article analyzes the most important reforms that were carried out by French presidents before E. Macron, in order to reduce the public sector, change labor law and collective bargaining procedures, reduce social expenditures of the state, etc. The role of E. Macron in neoliberal reforms during the presidency of F. Hollandeis shown. Particular attention is paid to the tasks and content of E. Macron's landmark reforms, including the reform of labor legislation, tax reform, the reform of the state monopoly in the field of railway transport, and the incomplete pension reform. The President has surpassed his predecessors in terms of the scale and significance of neoliberal reforms. This is unquestionably major breakthrough in neoliberal transformation, which will have an impact on the further development of the country's economy.