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L'Italia: una crisi nella crisi

Author

Listed:
  • Carlo D'Ippoliti

    () (Sapienza Università di Roma)

  • Alessandro Roncaglia

    () (Sapienza Università di Roma)

Abstract

The article synthesises the large and extending literature on the financial and economic crisis from a Post-Keynesian point of view. The authors take on the position that the international and internal real imbalances are serious and worrying, but yet they are not the cause of the crisis or of its tremendous dimension. The flawed and insufficient regulation of finance is the prime cause of the crisis, as well as it is one of the main hindrances to expansionary macroeconomic policies that may less painfully drive developed countries out of the crisis. It then examines the most recent developments in the euro-area, claiming that we are not facing a sovereign debt crisis but rather a speculative attack on the euro. Finally, the article considers specifically the situation of Italy, currently at the hearth of such an attack, and suggests that the country was already facing critical developments before the 2007/2008 crisis. Thus, the policy measures so far suggested to exit the current stressful situation, in so far as they ignore this fact, seriously run the risk of proving insufficient or altogether noxious.

Suggested Citation

  • Carlo D'Ippoliti & Alessandro Roncaglia, 2011. "L'Italia: una crisi nella crisi," Moneta e Credito, Economia civile, vol. 64(255), pages 189-227.
  • Handle: RePEc:psl:moneta:2011:31
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    File URL: http://scistat.cilea.it/index.php/MonetaeCredito/article/view/384/204
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    References listed on IDEAS

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    1. James Meade., "undated". "Agathotopia," Hume Papers 16, David Hume Institute.
    2. Meade, James E, 1974. "Labour-Managed Firms in Conditions of Imperfect Competition," Economic Journal, Royal Economic Society, vol. 84(336), pages 817-824, December.
    3. Bruno Jossa, 2010. "Sulla transizione dal capitalismo all'autogestione," Moneta e Credito, Economia civile, vol. 63(250), pages 119-155.
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    Citations

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    Cited by:

    1. Carlo D'Ippoliti, 2013. "Introduzione: L'Unione Europea e' "mammona" (Introduction: A Pansy European Union)," Moneta e Credito, Economia civile, vol. 66(264), pages 377-395.
    2. Alessandro Roncaglia, 2012. "Keynesian uncertainty and the shaky foundations of statistical risk assessment models," PSL Quarterly Review, Economia civile, vol. 65(263), pages 437-454.
    3. Alessandro Roncaglia, 2011. "Introduction," PSL Quarterly Review, Economia civile, vol. 64(258), pages 189-191.
    4. Marcella Corsi; Carlo D’Ippoliti, 2016. "Le pensioni tra efficienza economica e giustizia sociale: un connubio possibile (The pensions system between economic efficiency and social justice: A possible mix)," Moneta e Credito, Economia civile, vol. 69(274), pages 227-250.
    5. Alessandro Roncaglia, 2013. "Le politiche di austerita' sono sbagliate," Moneta e Credito, Economia civile, vol. 66(262), pages 121-128.
    6. Botti, Fabrizio & D’Ippoliti, Carlo, 2014. "Don’t ask don’t tell (that you’re poor). Sexual orientation and social exclusion in Italy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 49(C), pages 8-25.
    7. Stefano Lucarelli & Roberto Romano, 2016. "The Italian Crisis within the European Crisis. The Relevance of the Technological Foreign Constraint," World Economic Review, World Economics Association, vol. 2016(6), pages 1-12, February.
    8. Carlo Panico, Francesco Purificato, Elvira Sapienza, 2015. "Benefici, problemi e prospettive dell’integrazione monetaria in Europa (Benefits, issues and future of monetary integration in Europe)," Moneta e Credito, Economia civile, vol. 68(271), pages 305-339.
    9. Marcella Corsi & Carlo D'Ippoliti, 2013. "The productivity of the public sector: A Classical view," PSL Quarterly Review, Economia civile, vol. 66(267), pages 403-434.
    10. Alessandro Ronaglia, 2012. "Note bibliografiche: Gallino L. (a cura di): La lotta di classe dopo la lotta di classe," Moneta e Credito, Economia civile, vol. 65(260), pages 335-339.
    11. repec:psl:moneta:2017:41 is not listed on IDEAS
    12. Carlo D'Ippoliti, 2014. "Introduction: welcoming a new editorial board," PSL Quarterly Review, Economia civile, vol. 67(268), pages 3-8.
    13. Corsi, Marcella & D'Ippoliti, Carlo & Gumina, Andrea & Battisti, Michele, 2006. "eGEP Economic Model: Final Report on the Benefits, Costs and Financing of eGovernment," MPRA Paper 34396, University Library of Munich, Germany.

    More about this item

    Keywords

    crisis; euro; sovereign; Italy; credit default swaps;

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • G01 - Financial Economics - - General - - - Financial Crises

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