The Review of Economics and Statistics Vol. 3 No. 4 1921
The Italian Economic Situation
Abstract
EVEN under normal conditions Italy must be rated a poor country. The endowment of natural resources is scanty, industrial development has been less marked than in any of the great powers, and the predominant occupation, agriculture, is carried on with comparative ineffectiveness. Italy's economic disabilities have been greatly increased as a result of the war by excessive straining of credit and inflation of the currency, depreciation of the lira, quintupling of prices, and labor troubles. Although, with the exception of the railroads, the physical equipment of Italian industry and agriculture has suffered little, it is evident that extraordinary energy, skill, and political daring will be necessary to effect even a slow recovery of economic order and stability. The extent to which Italy normally must depend upon foreign countries for essential basic materials appears from a comparison of merchandise imports and exports for the five years preceding the war.
- DOI
- 10.2307/1928801
- Volume
- 3
- Issue
- 4
- Pages
- 88
- Sources
- openalex crossref