Recent works on Italian capitalism: A review essay

Abstract

Italy's capitalism has traditionally differed from that of its major trading partners: state‐owned enterprises have played a larger role, securities markets have been relatively less developed, while corporate power in the private sector has been concentrated to an unusual extent in the hands of a few family‐controlled business groups. Since the 1970s, Italian big business has seemed unable to steer a new course in an increasingly global economy. When belatedly and under tight budget constraints Italy finally started privatizations in 1992, many hoped that this would bring about a long‐delayed modernization of financial markets, an increase in competitive market pressues, and some ‘democratization’ of corporate power. This article reviews a book edited by Fabrizio Barca which puts these recent experiences into a much‐needed longer historical perspective, and other books offering non‐scholarly views on the present state of Italian capitalism.

Fabrizio Barca (ed.) (1997) Storia del capitalismo italiano (Rome: Donzelli), pp. 1‐634, 60,000 lire, ISBN 88‐7989‐252‐5 hardback.

Filippo Cavazzuti (1996) Privatizzazioni, imprenditori e mercati (Bologna: Il Mulino), pp. 1‐83, 10,000 lire, ISBN 88‐15‐05562‐2 paperback.

Alfredo Macchiati (1996) Privatizzazioni tra economia e politica (Rome: Donzelli), pp. 1‐160, 18,000 lire, ISBN 88‐7989‐254‐1 paperback.

Giuseppe Turani (1996) Isogni del grande nord (Bologna: II Mulino), pp. 1‐138, 15,000 lire, ISBN 88‐15‐05721‐8 paperback.