When the International Herald-Tribune characterizes an economic program as "far-left," it's time to click over and see what all the fuss is about:

Ségolène Royal, the presidential candidate of the Socialist Party, unveiled a long- awaited platform on Sunday, veering sharply to the left on economic policy while also stressing discipline and "traditional values."

Ten weeks before the election, Royal is hoping to reverse a slide in popularity that has seen her lose ground to her main challenger, Interior Minister Nicolas Sarkozy.

In a two-hour speech to about 10,000 supporters north of Paris, she laid out a 100-proposal platform, pledging to raise pensions, to increase the minimum wage to €1,500, or about $2,000, a month and to guarantee a job or further training for every youth within six months of graduating from university.

She also said that randomly selected citizens' juries would watch over government policy and that juvenile delinquents could be placed in educational camps run by the military.

As if to preempt her opponents on the right, she stressed throughout her speech that her ideas had been nourished in 6,000 debates with citizens throughout France, a method she has called "participative democracy."....

A substantial part of her speech was dedicated to social and economic issues, on which Royal took a hard-left line.

"The unfettered rein of financial profit is intolerable for the general interest," she said. "You told me simple truths. You told me you wanted fewer income inequalities. You told me you wanted to tax capital more than labor. We will do that reform."

Royal said she would tax companies in relation to what share of their profits is reinvested in equipment and jobs, and what portion is paid to shareholders. She also promised to abolish a flexible work contract for small companies and hold a national conference in June on how to increase salaries.

Indeed, she seemed to have something to offer to most groups in society without saying how much the combined measures would cost: Under her presidency, she said, young women would get free contraception, all young people would get access to a €10,000 interest- free loan and the handicapped would see their benefits rise.

I have enough of a soft spot for the old Athenian council of 500 to hope that the citizen jury idea could actually work. Beyond that, if Royal wins and actually tries to implement this, it will be the fiscal equivalent of Francois Mitterand's "Keynesianism in One Country" -- with the same results of massive capital flight, recession, and policy retrenchment.

UPDATE: Over at U.S. News and World Report,James Pethokoukis blogs about another prominent politician who's big into taxing profits.