Italy, positioned in southeastern Europe, is a beautiful country that is faced with high unemployment, corruption and massive debt. Although it appears to be one of the most developed countries in Europe, Italy is somewhat of a laggard in globalization. Ranking twenty-third in world population, Italy stands at 56,126,212 people as of July 2009. The north and south seem to be split in economic terms with the north being well developed industrially and the south facing high unemployment and poverty. Italy is a democratic republic that replaced a monarchy back in 1946. Although it ranks seventh in world GDP and public debt and attracts millions of tourists every year, its current debt to GDP ratio continues to skyrocket. World economists are beginning to wonder if Italy will be able to survive the aftermath of the U.S. housing and credit crisis without defaulting on its debt. Even though Italy is known for its diversity in civilization and political principles, slow economic growth and an unstable political arena cause the country to fall behind in terms of global trade. Its economic forecasts and equity markets have taken a hit in the last quarter of 2009. Many say the cause of these horrific economic numbers are the global competition that Italy faces in its low-end industrial product segment.
Politically, Italy has the structure of a parliament system, in which its executive powers are delegated through the Council of Ministers. This Council is led by the “primo ministro” or “prime minister.” Italy’s current prime minister, Silvio Berlusconi was recently attacked by a emotionally unstable extremist. He was hit in the face repeatedly suffering a facial contusion by a northern extremist. The international character of I...
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...nefits. Italy’s unemployment rate has steadily decreased for the past ten years from 11.5% in 1999, to 7% in 2007.
Economists predict real GDP growth will be below expectations again in 2010 and that a further halt in 2008 will result reflecting the impact of higher inflation, international financial insecurity and the appreciation of the euro. Its public debt is at nightmare proportions and continues to rise, and to this day remains well above 115% of GDP. (Economist.com - Italy)
I believe that Italy will continue to have sluggish economic growth within the foreseeable future. The widespread corruption, organized crime and massive debt will cause Italy’s slow expansion. When the government works to lower the high tax burden on citizens and bring the country out of its budget deficit, we will see Italy’s political and economic prospects flourish once again.
A famous quote by FDR at his First Inaugural Address was, “Only Thing We Have to Fear Is Fear Itself” came to mind when thinking of most European democracies position’s when it came to the military aggression by Italy and Germany. However, it is easy to understand why they would make concessions, albeit short-lived, rather than run the risk of another World War and all of the noxious energy that comes with it. On the other hand, to trust the “devilish nature” of both Hitler and Mussolini would turn out to be costly moves that were fortunately corrected by the strength of the United States and its Allies in time.
In response to the democratic backlash after World War I, in response to the Treaty of Versailles and the economic failure after the war, countries turned to a totalitarian, fascist government, regulating every facet of life of the people it ruled. Fascist Italy was no exception—over the years 1921-1943, Italy instituted a population policy, controlling it and causing it to rise. Italy’s population policy consisted of the regulation of family size, often exercising Mussolini’s bid for control in extreme manners. The reactions consisted of an economic counterpoint of family size, and disapproval of this new regime.
"Viaggiando manterrà il vostro cuore giovane nella vostra mente forte," was one of the many inspirational quotes told to me by my Italian grandmother. Storytelling was her forte. And it is because of these stories of her life that I developed an obsession for Italy and travel. Full of energy and complete wanderlust, she lived life to the fullest, passing away at 94. I often wonder if her long life had anything to do with growing up in Italy, and whether her lifestyle choices varied significantly from that of American culture. From a business perspective, GDP is an oftentimes used term to describe the government’s spending habits. And as a business major intent on making a positive difference in our society, I can’t help but wonder why Italians have a much longer lifespan, yet spend nearly half of what the United States do on their health care system.
Ginsborg P (1990). ‘A History of Contemporary Italy: Society and Politics: 1943-1980’ Published by Penguin; Reprint edition (27 Sep 1990).
The positive effects of Benito Mussolini’s reign in Italy benefitted the country greatly. By putting Cesare Mori in charge of eliminating the mafia, he caused 11,000 of Italy’s criminals to be arrested, which caused the country’s crime rates to plummet. The nearly absolute end of the mafia brought peace and order to Italy, which the country’s citizens desperately needed. He also defended his country’s interests by going against the allies for not giving Italy the land that was promised to them if they joined them in the first world war. Mussolini also upgraded infrastructure in Italy and improved the Italian economy.
Multiple historians have touched on the change in government during Fascist Italy’s reign in World War II. In Italian Fascism: Its Origins and Development, Alexander De Grand clarifies the many promises Benito Mussolini fabricated for the Italian people in order to get them to join his cause such as the improvement on poverty with the rise of a new Roman Empire. De Grand also gives an opposite view, with some citizens seeing Fascism as a “model of efficiency.” In Melton S. Davis’ Who Defends Rome?, t...
During the late 1800's Italy became one of the most overcrowded countries in Europe. Many Italians began to consider the possibility of leaving Italy to escape the new low wages and high taxes. For centuries the entire Italian peninsula was divided into quarreling states, with foreign powers often controlling several states. In this chaotic situation, the feudal system ruled above the economic system, leaving money only in the hands of a select few (Wikepedia.com, 2007).
To begin with, this is determined by Italy's weak and foreign expansion policy. In 1871, the long-torn apartness of Italy achieved unity, providing favorable conditions for the development of capitalism. But the reunification is completed from top to bottom, retaining a large number of feudal remnants, which seriously hindered the further development of the Italian economy, resulting in the backwardness of Italy, mainly in three aspects: First, backward agriculture, food production is extremely
The economy’s predictions of course, are not always right. But these leading and lagging indicators are here to help you decide what you believe. Is the economy getting worse and are we headed towards another recession? Is the economy getting any better, even better then ever? At the moment, this very economy is known to be in a recession, though some people say we are no longer in one. So, is the economy in a recession? Use this information so you can form an opinion but just remember before you decide, it’s always up to the government and the people part of the economy to decide where we are heading. It’s our spending and our choices that put us where we are now.
"The manner in which Mussolini and the Fascist Party gained possession of the government was regarded in most foreign circles as an illegal act of violence." (3) As the nation of Italy began to suffer great debts, Mussolini had been summoned by the King to form a government to aid in the economic needs. This marked the birth of the Fascist Party in Italy. In the beginning of his rise to the top, Mussolini was popular amongst his people. His popularity was high, and people began to trust in his judgment and ideas. (4) He was, in essence, saving the people from the turmoil that had ensued the nat...
During the 1970’s and 1980’s, great fear had been spread throughout Italy. A group known as the Brigate Rosse, or Red Brigade, had developed and left its mark on the Italian political scene. Fear was commonplace as bomb plots, kneecappings, and assassinations became the norm. As we go through this paper, the fascinating yet horrifying story, including the history, ideology, and current activity of the Red Brigade will be told.
This somber conclusion to the film seems to be an expression of hopelessness for Italy's future. By 1948, the country had gone through a series of tumultuous historical events, caused by the inadequacy of its political and economic system. The disillusionment of its citizens with the system and in fact with the very concept of their nation was taken to its limits by yet another failure to achieve true social change after World War II. The transformismo of the Christian Democrats and the attendismo of the Communists offered no hope for Italians, appearing as just another stage in the country's endless cycle of political and social failure.
I believe that the economy will eventually pick itself back up and avoid a recession. GDP will once again grow at a quick pace.
In summation, based on these three but important economic variables one can expect slight improvements for the economy in different aspects. The best news appear to be an expected rise in projected consumer spending, while a steady unemployment rate is expected, and small but substantial growth in GDP seems to be around the corner thanks to an encouraging PMI that reports expansion at a lower rate.
In the early years of the twentieth century, Italy has created a new system of government, however suffered social and economic conditions. Improvements were made however, poverty and literacy were still problems that have not been solved well. While entering World War I, the nation was neutral up until joining the British and French in exchange for certain advantages. However, it was unsuccessful as Italy failed to take control of the territories that it claimed at the Versailles Peace Conference, and suffered significant losses. The ideology of fascism occurred when the power of Italy was shrinking and the idea of being a pacifist became weak.