Before World War II, Argentina was rich. Even in 1960, the country was twice as rich as Italy.
Today you can compare the per capita income of Argentina to that of Romania. Because it didn't grow. A country could get rich in 1900 just by producing corn and meat, but that is not true today. But it took them 100 years to realize they were becoming poor. And that is what worries me about Italy. We're not going to starve next week. We are just going to decline, slowly, slowly, and I'm not sure what will turn that around.
Il futuro tra declino e speranze dell'Italia a crescita zero.
Il paese dei piccoli imprenditori, delle aziende familiari e del debito pubblico fuori controllo, visto dall'America.
You know, it is a hard world for poets.
Res publica 02.08.10