The Political Economy of Italy's Decline
The Political Economy of Italy's Decline

Author: Andrea Lorenzo Capussela

Publisher: Oxford University Press

Published: 2018

Total Pages: 296

ISBN-13: 0198796994

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Italy is a country of recent decline and long-standing idiosyncratic traits. A rich society served by an advanced manufacturing economy, where the rule of law is weak and political accountability low, it has long been in downward spiral alimented by corruption and clientelism. From this spiral has emerged an equilibrium as consistent as it is inefficient, that raises serious obstacles to economic and democratic development. The Political Economy of Italy's Decline explains the causes of Italy's downward trajectory, and explains how the country can shift to a fairer and more efficient system. Analysing both political economic literature and the history of Italy from 1861 onwards, The Political Economy of Italy's Decline argues that the deeper roots of the decline lie in the political economy of growth. It places emphasis on the country's convergence to the productivity frontier and the evolution of its social order and institutions to illuminate the origins and evolution of the current constraints to growth, using institutional economics and Schumpeterian growth theory to support its findings. It analyses two alternative reactions to the insufficient provision of public goods: an opportunistic one- employing tax evasion, corruption, or clientelism as means to appropriate private Goods- and one based on enforcing political accountability. From the perspective of ordinary citizens and firms such social dilemmas can typically be modelled as coordination games, which have multiple equilibria. Self-interested rationality can thus lead to a spiral, in which several mutually reinforcing vicious circles lead society onto an inefficient equilibrium characterized by low political accountability and weak rule of law. The Political Economy of Italy's Decline follows the gradual setting in of this spiral as it identifys the deeper causes of Italy's decline.

The Political Economy of Normative Trade Power Europe
The Political Economy of Normative Trade Power Europe

Author: Arlo Poletti

Publisher: Springer

Published: 2018-05-07

Total Pages: 135

ISBN-13: 3319788647

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This book critically engages with a long tradition of scholarly work that conceives of the European Union as a peculiar international actor that pursues a value-based, normatively oriented and development-friendly agenda in its relations with international partners. The EU is a pivotal player in international trade relations, holding formidable power in trade but also exercising substantial power through trade. Trade policy therefore represents a strategic field for the EU to shape its image as a healthy economy and a global power. In this field, the EU has declared a twofold ambitious goal, namely that of fostering economic growth in Europe while, at the same time, promoting development and growth abroad, both in developed and developing countries. In other words, the EU aims to increase its competitiveness in world trade while acting as an ethical and normative power. Here, Poletti and Sicurelli explore the tension between these two roles.

Euro-Austerity and Welfare States
Euro-Austerity and Welfare States

Author: H. Tolga Bolukbasi

Publisher: University of Toronto Press

Published: 2021

Total Pages: 288

ISBN-13: 1487507763

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Weighing in on the euro-austerity debate, this book uses case studies from three countries to evaluate the distinctive politics of fiscal policy and welfare state reform during a key period in Europe.

The Political Economy of Italy in the Euro
The Political Economy of Italy in the Euro

Author: Leila Simona Talani

Publisher: Springer

Published: 2017-07-03

Total Pages: 284

ISBN-13: 113757755X

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This book proposes an alternative political economy framework in which to analyse the question of the credibility of international economic agreements, in general, and monetary arrangements in particular. The focus is on European monetary arrangements, from the establishment of the European Monetary System to the crisis of the Euro-zone. The analysis is predicated around the political economy of Italy’s access and permanence in the Economic and Monetary Union (EMU). The author argues that the case of Italy, which made a concerted effort to join the EMU in the first wave, is particularly striking. Support for the single currency was widespread when it was introduced, yet something went wrong. Nowadays, its participation to the European monetary integration process cannot be easily taken for granted, especially after the vicissitudes of the Euro-zone crisis.

Italy from Crisis to Crisis
Italy from Crisis to Crisis

Author: Matthew Evangelista

Publisher: Routledge

Published: 2017-12-01

Total Pages: 249

ISBN-13: 1351586920

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Italy from Crisis to Crisis seeks to understand Italy’s approach to crises by studying the country in regional, international, and comparative context. Without assuming that the country is abnormal or unusually crisis-prone, the authors treat Italy as an example from which other countries might learn. The book integrates the analysis of domestic politics and foreign policy, including Italy’s approach to military interventions, energy security, economic relations with the European Union (EU), and to the NATO alliance, and covers a number of issues that normally receive little attention in studies of "high politics," such as information policy, national identity, immigration, youth unemployment, and family relations. Finally, it puts Italy in a comparative perspective – with other European states, naturally – but also with Latin America, and even the United States, all countries that have experienced similar crises to Italy’s and similar – often populist – responses. This text will be of key interest to scholars and students of, and courses on, Italian politics and history, European politics and, more broadly, comparative politics and democracy.

Political Economy of Contemporary Italy
Political Economy of Contemporary Italy

Author: Nicolò Giangrande

Publisher:

Published: 2021-11

Total Pages:

ISBN-13: 9780367544430

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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. Nicolò Giangrande is an economic researcher at the Giuseppe Di Vittorio Foundation (Italy), professor and director of the Cátedra Barão do Rio Branco at the U:VERSE University Centre (Brazil), and teaching assistant in Political Economy at the University of Salento (Italy)"--

The Economic Integration of Europe
The Economic Integration of Europe

Author: Richard Pomfret

Publisher: Harvard University Press

Published: 2021-06-08

Total Pages: 273

ISBN-13: 0674259432

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The clearest and most up-to-date account of the achievements—and setbacks—of the European Union since 1945. Europe has been transformed since the Second World War. No longer a checkerboard of entirely sovereign states, the continent has become the largest single-market area in the world, with most of its members ceding certain economic and political powers to the central government of the European Union. This shift is the product of world-historical change, but the process is not well understood. The changes came in fits and starts. There was no single blueprint for reform; rather, the EU is the result of endless political turmoil and dazzling bureaucratic gymnastics. As Brexit demonstrates, there are occasional steps backward, too. Cutting through the complexity, Richard Pomfret presents a uniquely clear and comprehensive analysis of an incredible achievement in economic cooperation. The Economic Integration of Europe follows all the major steps in the creation of the single market since the postwar establishment of the European Coal and Steel Community. Pomfret identifies four stages of development: the creation of a customs union, the deepening of economic union with the Single Market, the years of monetary union and eastward expansion, and, finally, problems of consolidation. Throughout, he details the economic benefits, costs, and controversies associated with each step in the evolution of the EU. What lies ahead? Pomfret concludes that, for all its problems, Europe has grown more prosperous from integration and is likely to increase its power on the global stage.

Resilient Liberalism in Europe's Political Economy
Resilient Liberalism in Europe's Political Economy

Author: Vivien A. Schmidt

Publisher: Cambridge University Press

Published: 2013-08-29

Total Pages: 473

ISBN-13: 1107435692

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Why have neo-liberal economic ideas been so resilient since the 1980s, despite major intellectual challenges, crippling financial and political crises, and failure to deliver on their promises? Why do they repeatedly return, not only to survive but to thrive? This groundbreaking book proposes five lines of analysis to explain the dynamics of both continuity and change in neo-liberal ideas: the flexibility of neo-liberalism's core principles; the gaps between neo-liberal rhetoric and reality; the strength of neo-liberal discourse in debates; the power of interests in the strategic use of ideas; and the force of institutions in the embedding of neo-liberal ideas. The book's highly distinguished group of authors shows how these possible explanations apply across the most important domains - fiscal policy, the role of the state, welfare and labour markets, regulation of competition and financial markets, management of the Euro, and corporate governance - in the European Union and across European countries.

Financial Crisis Management and Democracy
Financial Crisis Management and Democracy

Author: Bettina De Souza Guilherme

Publisher: Springer Nature

Published: 2020-12-09

Total Pages: 372

ISBN-13: 3030548953

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This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.

Italy Transformed
Italy Transformed

Author: Martin Bull

Publisher: Routledge

Published: 2020-06-09

Total Pages: 233

ISBN-13: 0429686277

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The decade commencing with the great crash of 2008 was a watershed period for Italian politics, involving fundamental and dramatic changes, many of which had not been anticipated and which are charted in this book. This comprehensive volume covers the impact of the Eurozone crisis on the Italian economy and its relationship with the European Union, the dramatic changes in the political parties (and particularly the rise of a new political force, the Five Star Movement, which became the largest political party in 2013), the changing role of the Trade Unions in the lives of Italian citizens, the Italian migration crisis, electoral reforms and their impact on the Italian party system (where trends towards bipolarisation appear to be exhausted), the rise of new forms of social protest, changes to political culture and social capital and, finally, amidst the crisis, reforms to the welfare state. Overall, the authors reveal a country, which many had assumed was in quiet transition towards a more stable democracy, that suffers an immense shock from the Eurozone crisis and bringing to the fore deep-rooted structural problems which have changed the dynamics of its politics, as confirmed in the outcome to the 2018 National Elections. This book was originally published as a special issue of South European Society and Politics.