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Pierluigi Ciocca (Ed.)
L'economia mondiale nel Novecento
The World Economy in the Twentieth Century
1998, pp. 154

During the twentieth century the world economy has experienced an exceptional combination of instability, change and continuity. Cyclical crises and inflation, the rise and decline of communism, the alternation of new and old international powers, and the rise and decline of Keynesianism have all accompanied an unprecedented improvement in mankind's material well-being and momentous transformations in technology, modes of production and the role of the State. Yet the century is ending much as it began, that is, beset by a fundamental and on-going contradiction. The contrast between wealth and poverty and between poverty and dissipation of resources is acute: the market economy regulation has failed to overcome disparities between nations, classes, and individuals. In his introductory essay, Pierluigi Ciocca clearly identifies the essential features of this set of radical changes and unresolved problems. The volume's other essays comprise critical commentaries by renowned historians and economists such as Sylos Labini, Toniolo, Wallerstein, De Cecco, Hobsbawm, Caracciolo, Bairoch, Lunghini, Alvi, Kindleberger, Nardozzi, Arrighi, and Nolte. The volume does not intend to draw a balance between the incommensurate positive and negative elements of this century's economy, nor does it make useless and impossible forecasts: it simply offers food for thought to non-specialist readers pondering the economic prospects of the twenty-first century.

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Pierluigi Ciocca is the general vice-director of the Bank of Italy.

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