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The political economy of neo-liberalism in Italy and France

Author

Listed:
  • Bruno Amable

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CEPREMAP - Centre pour la recherche économique et ses applications - ECO ENS-PSL - Département d'économie de l'ENS-PSL - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres, IUF - Institut universitaire de France - M.E.N.E.S.R. - Ministère de l'Education nationale, de l’Enseignement supérieur et de la Recherche)

  • Elvire Guillaud

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Stefano Palombarini

    (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis)

Abstract

There are many apparent similarities between the current political and economic situations of France and Italy. The mainstream view is that at least part of the neo-liberal strategy could be a solution to the economic problems of both variants of the European model of capitalism. However, the difficulties met by the implementation of these strategies by Sarkozy and Berlusconi lead to believe that the success or failure of neo-liberalisation has less to do with its (lack of) macroeconomic merits than with the stability of the socio-political alliances that support it. In this respect, France and Italy are markedly different. This paper shows that even if the "hard core" of the neoliberal social bloc is roughly the same in both countries, this core constitutes a minority of the electorate ; a neoliberal strategy must therefore rely on an extended social coalition, which might not be similar between countries. The Great Recession revealed part of the structural characteristics that set both countries apart. The aim of this article is to show that the consideration of the different socio-political alliances found in each country can help to understand how Italy and France ended up on different economic trajectories.

Suggested Citation

  • Bruno Amable & Elvire Guillaud & Stefano Palombarini, 2011. "The political economy of neo-liberalism in Italy and France," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00639450, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00639450
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00639450
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    References listed on IDEAS

    as
    1. Bruno Amable, 2009. "Structural reforms in Europe and the (in)coherence of institutions," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 25(1), pages 17-39, Spring.
    2. Elvire Guillaud & Stefano Palombarini, 2006. "Évolution des attentes sociales et comportement électoral : France, 1978-2002," Working Papers halshs-00590295, HAL.
    3. Pierre Cahuc & André Zylberberg, 2009. "Les réformes ratées du président Sarkozy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00368321, HAL.
    4. Schmidt, Vivien A., 2002. "The Futures of European Capitalism," OUP Catalogue, Oxford University Press, number 9780199253685.
    5. Amable, Bruno, 2003. "The Diversity of Modern Capitalism," OUP Catalogue, Oxford University Press, number 9780199261147.
    6. Bruno Amable & Stefano Palombarini, 2009. "A neorealist approach to institutional change and the diversity of capitalism," Post-Print hal-00345887, HAL.
    7. Annamaria Simonazzi & Paolo Villa & Federico Lucidi, 2008. "Continuity and Change in the Italian Model: Italy's Laborious Convergence towards the European Social Model," Working Papers in Public Economics 108, Department of Economics and Law, Sapienza University of Roma.
    8. repec:pse:psecon:2006-37 is not listed on IDEAS
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    Cited by:

    1. Madariaga, Aldo, 2013. "Mechanisms of institutional continuity in neoliberal "success stories": Developmental regimes in Chile and Estonia," MPIfG Discussion Paper 13/10, Max Planck Institute for the Study of Societies.
    2. Hideko Magara, 2013. "Introduction: two decades of structural reform and political change in Italy and Japan," Chapters, in: Hideko Magara & Stefano Sacchi (ed.), The Politics of Structural Reforms, chapter 1, pages 1-24, Edward Elgar Publishing.

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    More about this item

    Keywords

    Institutions; model of capitalism; neoliberal reforms; political crisis.; Crise politique; modèles de capitalisme; réformes néolibérales.;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

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