The Nota Aggiuntiva, presented by the Budget Minister Ugo La Malfa in 1962, is the economic policy document that marks the beginning of center-left governments and proposes planning as an instrument for solving Italy’s economic problems. This paper has three different aims. The first is to ground this text in the prevailing economic theory of the time, specifically by drawing on the works of Sylos-Labini, Fuà, and Ruffolo. Second, it will argue that these models did not stand the test of time, as subsequent models undermined some of their basic tenets regarding the behavior of public and private decision-makers, and that international economic constraints were making domestic policy less powerful. Finally, we show how disillusionment with the results of this policy led Ugo La Malfa toward a neo-liberal position.
The Nota Aggiuntiva between theory and political and economic constraints
Roberto Ricciuti
In corso di stampa
Abstract
The Nota Aggiuntiva, presented by the Budget Minister Ugo La Malfa in 1962, is the economic policy document that marks the beginning of center-left governments and proposes planning as an instrument for solving Italy’s economic problems. This paper has three different aims. The first is to ground this text in the prevailing economic theory of the time, specifically by drawing on the works of Sylos-Labini, Fuà, and Ruffolo. Second, it will argue that these models did not stand the test of time, as subsequent models undermined some of their basic tenets regarding the behavior of public and private decision-makers, and that international economic constraints were making domestic policy less powerful. Finally, we show how disillusionment with the results of this policy led Ugo La Malfa toward a neo-liberal position.
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