THE CURRENT CRISIS? PRACTICALLY WITHOUT COMPARISON IN ITALIAN HISTORY
In the history of united Italy, since 1860, what have been the strongest economic crises and how does the current recession fit into a historical perspective lasting 160 years?
This is a very useful evaluation because it allows you to understand the dimensions of the problem and what the solutions should, or could, be.
First of all, let's look at the recessions in ascending order, from weakest to strongest:
The COVID-19 recession ranks third, just after the two terrible war years of 1943-44 and just before 1945, which saw us come out destroyed. Let's now analyze the recessions in chronological order.
The current crisis dwarfs that of 1930, an Italian consequence of that of 1929. It also dwarfs that of 1927, linked to "Quota 90" and the austerity regime introduced by Mussolini. It even surpasses that of 1867, which led to violent social revolts. The crisis of 1930 led to a rather decisive rethinking of the Italian credit and production system, with the nationalization of the banks and the birth of IRI and IMI. it also led to the recognition that a certain modus vivendi among Western countries was no longer possible and we began to take a wrong path. The war situation was so serious that the institutional system was overturned from its roots, not only the fascist regime was eliminated, but also the monarchy. There was a civil war, a half revolution and the Constitution was created. to think that the current crisis can be overcome with the fresh water measures of the Conte government is like thinking, in 1943, that the excellent Macchi C 205 could stop the allied bombing on Italy. A pure pious illusion that opened the way for the revolution.
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The article THE CURRENT CRISIS? PRACTICALLY WITHOUT COMPARISON IN THE HISTORY OF ITALY comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-crisi-attuale-praticamente-senza-confronto-nella-storia-dellitalia/ on Sun, 25 Oct 2020 06:00:22 +0000.