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.
"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).
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...
war, and blood will flow from the veins of Italy. We are the last to
7 May 2010 “Fascism in Germany and Italy.” Online Essays. 10 July 2007. 7 May 2010 “Italian Fascism.” Wikipedia, the Free Encyclopedia.
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
In 1922, Benito Mussolini held leadership in Italy, promising a proficient and militaristic nationalistic state. During his control as prime minister, he gained a large group of followers, banned the disparagement of government, and used extreme violence against his enemies within the parliament. According to Oppenheimer, Adolf Hitler idolized Mussolini’s rise and respected his tactics to gain power. Hitler was a violent leader who brought For example, “corporatism” largely contributed to later policies that we still practice today.
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).
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.
Mussolini’s population policy was a clear effort to exercise his authoritarian control over the people of Italy, regulating the most personal and private details of their lives. In his bid for complete control, he used new laws, propaganda, and sometimes brutal tactics in order for his wishes to be recognized. It is during the 1920’s to the 1940’s that totalitarian control over the state escalated into full dictatorships, with the wills of the people being manipulated into a set of beliefs that would promote the fascist state and “doctrines.”
"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...
Among the most prominent motifs in Italian politics since the Risorgimento has been a tendency for quasi-action (inaction disguised as action), in the form of transformismo and attendismo. The first of these terms refers to the practice of "assuring the government of an adequate majority in parliament either by a prelimina...
It is true that the Italian dictatorship was more conservative in its application than that of Hitler’s reign of terror. But, both the fascist ideas and rulings of these two leaders proved to have some similarities worth mentioning. Both leaders left their countries with an economic and social debt to the Allies, which is still strong in the minds of many older members of the community.
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.