The collapse was dramatic but not unexpected. On Wednesday France’s parliament fired the prime minister, Michel Barnier, leaving the country with no budget and no government. Mr Barnier, who will stay on in a caretaker role, met the brutal reality of life without a majority. France’s plight provides a stark warning of where the politics of disappointment can lead. When voters tire of centrist coalitions or weak minority governments, their only other choice is the political extremes. Our cover designers did an exceptional job with this one: I loved the combination of a sophisticated Parisian evening scene and some cheeky English humour. Not all of my colleagues agreed. Tant pis. 

Our cover outside Europe argues that America’s gambling boom should be celebrated, not feared. This year Americans are on track to wager nearly $150bn on sports. As our Briefing explains, the revolution has been unleashed by the overturning of bans, the rise of betting apps and a booming economy. Considering gambling’s seedy reputation, it is tempting to view this as unhealthy and dangerous. And it is true that, for some, gambling is a ruinous addiction. However, whereas state lotteries are disproportionally played by the poor, the new forms of gambling are less regressive. The lesson from other countries is not to ban gambling but to regulate its harms. Freedom of speech and political liberty are not the only important freedoms. The ability to spend your money as you wish matters, too.