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Back to the long-run: the “Development Operation” as a supply-side policy by the Italian Industrial Association during the Seventies

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  • Dafano, Alessandro

Abstract

The aim of this paper is to stress the proposal made by the Italian Industrial Association against the stagflation during the Seventies, labeled “Development Operation”, which tried to give Italy a long-run growth path, through a strong reduction of public debt, boosting the supply-side in order to gain more productive independence; all of this in close connection with the European Community framework and in line with IMF/OECD directives. Moreover, this policy statement provided for a synthesis of different schools and joined the crowding-out debate occurring at that time in Italy.

Suggested Citation

  • Dafano, Alessandro, 2016. "Back to the long-run: the “Development Operation” as a supply-side policy by the Italian Industrial Association during the Seventies," MPRA Paper 71591, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:71591
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    File URL: https://mpra.ub.uni-muenchen.de/71591/1/MPRA_paper_71591.pdf
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    References listed on IDEAS

    as
    1. Piero Bini, 2013. "The Italian Economists and the Crisis of the Nineteenseventies. The Rise and Fall of the "Conflict Paradigm"," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2013(1), pages 73-101.
    2. Brunner, Karl & Meltzer, Allan H, 1972. "Money, Debt, and Economic Activity," Journal of Political Economy, University of Chicago Press, vol. 80(5), pages 951-977, Sept.-Oct.
    3. Alessandro Dafano, 2014. "Reengineering the Confindustria Research Department: Guido Carli?s Chairmanship of the Italian Industrial Association (Confindustria)," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2014(1), pages 159-162.
    4. Tobin, James, 1981. "The Monetarist Counter-Revolution Today-An Appraisal," Economic Journal, Royal Economic Society, vol. 91(361), pages 29-42, March.
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    1. Alessandro Dafano, 2017. "Re-founding a think tank: the Research Department of the Italian Industrial Association and its findings (1976-1980)," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2017(2), pages 49-69.

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    Keywords

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    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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