French central bank governor Francois Villeroy de Galhau advocates a public debate on the benefits of economic growth.
"For many older people, economic growth is no longer an issue," said Villeroy de Galhau at the World Economic Forum in Davos.
"And many younger people are critical of economic growth because of the consequences for the climate."
However, economic growth is still essential for people's well-being.
The governor of the Banque de France sees an economic policy that promotes the supply of goods and services as an important source of growth.
The governor of the Banque de France was critical of the idea that future economic growth could be achieved through ever-increasing national debt.
In the crises of the recent past, the expansive monetary and financial policy was correct, but this policy should not simply be continued.
Instead, more private capital must be mobilized to finance important future projects.
In Europe, a capital markets union would serve this goal.
Villeroy de Galhau does not see monetary policy as being responsible for economic growth.
According to its mandate, the European Central Bank must take action against excessive inflation.
A normalization of monetary policy is therefore called for in order to bring the inflation rate to the target of 2 percent in the medium term.
Villeroy de Galhau did not present any own proposals for a rate hike path.
However, he referred to statements by ECB President Christine Lagarde, who had promised two interest rate hikes by the fall.