Showing posts with the label Antonio Martino

The Trilemma. A dilemma with three options.

The Euro, the welfare system and economic growth. By Antonio Martino Translated and re-elaborated by Leonardo Pavese   It seems to me the present situation presents us with quite a clear picture of the possibilities we face. To simplify, maybe excessively, I believe we can only have two of the following: a “traditional” welfare system, the Euro or economic growth. Let’s see. The first scenario is already before our eyes: we have the Euro, and we’ve got a traditional welfare system, whose astronomical costs caused public expenditure (in Italy) to reach something like 52% of GDP (Gross Domestic Product). But we don’t have economic growth: GDP is decreasing; the unemployment rate rose above 10% (for the first time in many years); youth unemployment stands at above 36% (but, as I will explain later, this is data to be taken with a grain of salt); small and medium size businesses are dying left and right; artisans and storekeepers are in a great deal of trouble an

The Euro and more nonsense.

This is the second article by Antonio Martino which I have translated into English. If you'd like to know who Antonio Martino is, please check out the first post: Switzerland: the Forgotten Miracle. The following article is a critique of an editorial  which Angelo Panebianco , an important Italian editorialist and a professor of Political Science at the University of Bologna , published on the Corriere della Sera , the most widely read Italian newspaper. Angelo Panebianco Martino's critique is important because it points out the main flaw that unfortunately, I think, mars the thinking of many European and especially Italian intellectuals. That is, the contradictory idea that overarching super-national structures are needed to guarantee democracy and that the self-determination, the freedom and the well being of the European people depend on transnational organization which are nearly unaccountable to voters.. It is symptomatic of a certain a

Switzerland: the Forgotten Miracle.

This is a translation of an article about Switzerland by Antonio Martino . Mr. Martino is an Italian economist and member of parliament. He was the italian Minister of Foreign Affairs during the first Berlusconi Administration and Minister of Defense in the second and third Prime Minister Berlusconi’s government. He’s a professor of economics at the LUISS University in Rome, and he was president of the Mount Pelerin Society a libertarian think-tank founded, among others, by   F. Hayek and Karl Popper . Mr. Martino, when he’s not fighting the collectivist fire, which in Italy, unfortunately, comes from the right as well as the left, blogs in Italian at: antonio The article is a look at Switzerland, an admirable example of decentralized federalism, responsible fiscal policies and direct democracy, which has endured for centuries. As always your comments will be greatly appreciated. Leonardo Pavese To be a classical liberal today means to kn