Italy: All Economy Fundamentals Are Wrong (Reuters)

dottavi —  2 September 2014 — 1 Comment
Olivetti retro advertising

Dattilografe con la nuova macchina da scrivere Olivetti 1927

Un interessante riepilogo (del luglio scorso) sull’andamento della nostra economia negli ultimi anni da parte di Reuters US, in un articolo che parte raccontando di Olivetti per poi chiedersi com’è che siamo conciati così:

Ivrea offers a window into a nationwide economic reversal that has few real parallels in the developed world. Italy’s economy has barely grown since 1994 and has shrunk since 2000. That is worse than any other country in Europe or any of the 34 rich and developing nations in the Organisation of Economic Co-operation and Development.

Economists look at a mix of factors to explain the long-term rise of the world’s emerging economies: population and employment trends; private and public investments; the productivity of workers; and the strength of a state’s legal, administrative and institutional environment. On each one of these counts, Italy has regressed since the 1980s.

More than 120,000 Italian manufacturers have closed shop and 1.2 million industrial jobs have disappeared since the start of the century, according to business association Confindustria. In the last 20 years even Japan, with its so-called “lost decades” of stagnation, has grown almost twice as fast as Italy.

The short-term snapshot looks a little better. Investors are giving markets a respite from the turbulence that threatened Italy’s future in the single currency in 2011. Matteo Renzi, an energetic 39 year-old prime minister, has made ambitious promises and was one of the few European Union leaders to emerge stronger from May’s European parliamentary elections. Renzi is using his new political clout to lead calls for more growth-friendly policies in the European Union, though his ability to bring real change is still an open question.

Italy also remains Europe’s second largest manufacturer after Germany. Home ownership and household wealth are among the highest in the OECD and private debt levels are relatively low. Italy Inc. has world leaders, including eyewear-maker Luxottica SpA and Ferrero SpA, which makes Nutella.

Yet all the fundamentals that drive the economy are headed in the wrong direction.

(grassetti miei)

Vedi Special Report – How Italy became a submerging economy | Reuters.

Vedi anche la Storia dell’Olivetti ELEA e la Distruzione di Olivetti.

dottavi

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Journalist, Blogger, Entrepreneur, Advisor. Writing about tech, culture and society since 1991. Formerly contributor at Forbes, Co-founder Blomming.com. Now Partner at Fashion Technology Accelerator.
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