Some aspects of Italian economy and the theory of full employment

Abstract

The problem of unemployment is today the most worrying aspect of the economic recovery in Italy and it is being specially studied by Italian economists in relation to its structural character and its dynamic basis, which is due to demographic pressure. The great interest aroused in Italy by the “Keynesian revolution” has, however, resulted in most careful consideration - also in public investigations - of the diverse schemes for full employment policies, from the standpoint of their possible practical application to Italy at the present time. This has brought out the basic conditions which differentiate the Italian economy from those economies where the full employment policy was originally worked out; the conclusion seems to be that there is a possible, but distinctly limited, field of application in this country. The present paper illustrates these basic conditions and limitations with statistics.

JEL: E24