Meritocracy, growth, and lessons from Italy's economic decline : lobbies (and ideologies) against competition and talent / Lorenzo Codogno, Giampaolo Galli.

Format:

Book

Author/Creator:

Codogno, Lorenzo, author.

Galli, Giampaolo, author.

Language:

English

Subjects (All):

Elite (Social sciences)--Economic aspects--Italy.

Elite (Social sciences).

Economic development--Italy.

Economic development.

Italy--Economic conditions--1945-.

Italy.

Physical Description:

1 online resource (260 pages)

Place of Publication:

Oxford : Oxford University Press, [2022]

Summary:

Italy's recent economic decline presents many lessons on the importance of meritocracy for economic growth. Connections, rather than merit, are a long-standing feature of the Italian elites. This book uses international comparisons on social capital, governance, education, corporate standards, and more to evaluate Italy's economic performance.

Contents:

Cover

Half Title

Title Page

Copyright Page

Preface

Acknowledgements

Contents

List of Figures

List of Tables

Introduction: Why a book in English on Italy's decline?

PART I MERITOCRACY AND DECLINE

1. In a nutshell

1.1 What is meritocracy?

1.2 Meritocracy and equality of opportunity

1.3 The enemies of meritocracy: vested interests and lobbies

1.4 Meritocracy and moral standards

1.5 Why did growth stall in Italy?

1.6 Meritocracy versus connections and lobbies

1.7 Historical legacies and social capital

1.8 The interplay of social capital and meritocracy

1.9 Egalitarianism and the 'long '68'

1.10 The 1975 wage indexation accord, inflation, and debt

2. Italy's decline: stylised facts

2.1 Half a century of crises

2.2 The 1970s: inflation

2.3 The 1980s: public debt

2.4 The 1990s: crisis and hope

2.5 The new millennium: the two original sins

2.6 From the GFC and the sovereign debt crisis to NGEU

2.7 Italy, the sick nation of the advanced world

2.8 The facts about growth and productivity

2.9 Why low productivity?

2.10 Facts about the debt and the budget

2.11 Methodology

2.12 The Prosperity Index

2.13 Appropriate use of international rankings

2.14 Italy's ranking

PART II COMPARATIVE EVIDENCE: SOCIETY

3. Legacies of a troubled history

3.1 Low mutual trust

3.2 Historical legacy and trust

3.3 Democratic legitimacy and meritocracy

3.4 Some unpleasant truths about SMEs

4. Lobbies in government

4.1 Trust and governance

4.2 Difficult transitions of power: Berlusconi and the 'red togas'

4.3 The rise and fall of populism

4.4 The government, ubiquitous and untraceable

4.5 Lobbying by rule-makers

4.6 Attempts at institutional reforms

4.7 Powerful lobbies: magistrates

4.8 Is Italy corrupt?

5. Lobbies in education.

5.1 Low level of education

5.2 Egalitarianism for whom?

5.3 Funding of universities

5.4 Ranking of universities

5.5 Attempts at reform

5.6 Lobbies against merit

5.7 The North-South divide in education

5.8 Low return to education

PART III COMPARATIVE EVIDENCE: ECONOMY

6. Key problems and inequities of Italy's economy

6.1 Confirmation and some surprises

6.2 The blunder of the gender gap

6.3 Schumpeter forgotten

6.4 Professional managers?

6.5 Antitrust versus many large and small lobbies

6.6 Exports: good, not excellent

6.7 The drama of the North-South divide

6.8 Quality of government in the regions of Italy

6.9 Inequality and social mobility

6.10 Gerontocracy

7. Competitiveness

7.1 Low foreign direct investment

7.2 Connections and corporate governance

7.3 Relationship finance

7.4 The burden of regulation

7.5 Lobbying by tax evaders

7.6 The rage of taxpayers

8. Egalitarianism and labour

8.1 Reforms and Penelope's shroud

8.2 Merit does not belong here

8.3 No active labour policies

8.4 The unions' lobby: protection for the lucky few

8.5 Few stable jobs

8.6 Many irregular jobs

8.7 The camouflage of false self-employed and false cooperatives

9. Why are companies so small?

9.1 Small firms, pocket multinationals, and government-controlled enterprises

9.2 Small is not beautiful

9.3 Tax evasion and more

9.4 Labour market rigidities

9.5 Bureaucracy, connections, and rents

9.6 External pressures and political suspicion

PART IV SUMMING UP AND LESSONS

10. Summing up on Italy

10.1 The bright spots

10.2 The problems: bureaucracy

10.3 Governance

10.4 Justice

10.5 Labour

10.6 Finance

10.7 Education

10.8 Competition policy

10.9 Public debt

10.10 Reform fatigue and the rhetoric of inequality.

10.11 Italy and the EU: the Great Misunderstanding

10.12 A tale of two countries: Italy and Germany

11. Lessons

11.1 It could happen to you

11.2 No Silicon Valley without a Stanford

11.3 Ivy League and equal opportunities

11.4 Other causes of the decline

11.5 The merits of meritocracy and the demerits of the alternatives

11.6 Reality denied

11.7 From humility to confidence

Bibliography

Index.

Notes:

Also issued in print: 2022.

Includes bibliographical references and index.

Description based on online resource; title from home page (viewed on November 2, 2022).

Other Format:

Print version: Codogno, Lorenzo Meritocracy, Growth, and Lessons from Italy's Economic Decline

ISBN:

0-19-195773-9

0-19-269220-8

0-19-269221-6

9780192866806

9780192692214