The employment policy in Italy

Francesco Vito
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Francesco Vito: Full Professor of Economic Policy at the Catholic University of the Sacred Heart

Rivista Internazionale di Scienze Sociali, 2013, vol. 121, issue 3-4, 353-372

Abstract: This article discusses full employment policies in their general and theoretical terms and assesses their possibility of application in Italy. Firstly Vito examines the arguments provided by neoclassical theory against full employment policies. Secondly Vito examines the causes of unemployment in Italy: Vito declares his agreement with the view that unemployment in Italy, like in many backward countries, does not derive from a lack of aggregate demand, rather from a structural disequilibrium between a huge workforce population and the capital equipment needed to fruitfully employ it. Vito makes clear that a wide-ranging plan of public intervention is needed in order to cope with structural unemployment: the government should undertake a bold action to foster a better allocation of the available capital, to promote a steadier formation of new capital equipment, to address the strong territorial and social unbalances which prevent the achievement of full employment.

Keywords: Full employment policies; Migration; Keynesian Theory; Developing countries; Unemployment Insurance; William Beveridge; Costantino Bresciani Turroni; Federico Caffe`; John M. Clark; Silvio Golzio; Pasquale Saraceno; Italian Bankers Association (search for similar items in EconPapers)
JEL-codes: J60 J65 O11 O21 O23 (search for similar items in EconPapers)
Date: 2013
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