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Political Economy of Contemporary Italy - The Economic Crisis and State Intervention (Hardcover)
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Political Economy of Contemporary Italy - The Economic Crisis and State Intervention (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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Drawing on Kaleckian and Kaldorian approaches, Political Economy of
Contemporary Italy: The Economic Crisis and State Intervention
explores the reasons behind the stagnation of the Italian economy
from the 1970s and suggests policy solutions to ease the crisis.
The central thesis of the book is that from the early 1990s Italy
experienced a constant reduction of both private and public
investment which, combined with increasing labour precariousness
and wage moderation, contributed to the decline of both labour
productivity and economic growth. It is argued that lack of
industrial policies amplified the problem of the poor macroeconomic
performance, since Italian firms - small-sized and non-innovating -
were incapable of staying competitive on the global scene. Net
exports did not compensate for the decline of public spending,
private investment and consumption. It is also shown that, in these
respects, Italy presents an interesting case study with wider
ramifications for it was involved in the global process of
intensifying the neoliberal agenda but at a faster rate than other
OECD countries. The book concludes with a call for an alternative
economic policy in order to promote innovation, reduce unemployment
and stimulate economic growth. This book marks a significant
contribution to the literature on the recent history of the
European economy, Italian studies and the history of economic
thought.
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