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Italy’s economic miracle is not what it seems
Is Italy experiencing a new economic miracle? When manipulated, numbers can say anything you want them to. But there are limits. And if we leave the demagoguery aside, the figures still do not seem to offer much hope for Italy’s long-term economic prospects. First, we should put aside the bad habit of attributing the economy’s successes and failures to the current and previous governments. In the short term, economic performance rests on factors that are not entirely under the control of any government in office. It mostly depends on exogenous variables and policies cumulated over the years – for better or ... (full story)