The theoretical basis of the CGIL's analysis of the Italian economic decline

By Guglielmo Forges Davanzati, Nicolò Giangrande

PKES Working Paper 1801

January 2018

This paper deals with the Italian economic decline from a double perspective. First, it provides a reconstruction of the main Post Keynesian arguments explaining the bad macroeconomic performance of the Italian economy, starting from the end of the “economic miracle”. Second, it proposes a re-reading of the CGIL’s view, showing that is it consistent with a theoretical approach based on the fundamental assumptions and policy prescriptions of the Post Keynesian framework.

Keywords: Italian economic decline, labour market, unions

JEL classification: E60 J50