“In Italy there is no longer inflation, but rather a risk of deflation”. To say it Ignazio Visco, the governor of the Bank of Italy guest at Sapienza on the occasion of the thirtieth anniversary of the death of Ezio Tarantelli. During the homage to the Italian economist, Visco recalls how Tarantelli, killed by the Red Brigades, tried to counter the "very serious problem of inflation" in the 80s.
At the time, recalls Visco, Tarantelli had the intuition to intervene on the steps on the escalator "and had the great idea of looking ahead to programmed inflation" which led "to what was later called concertation".
In his speech at the Sapienza University, Visco proposed a parallel between the problems that led to high inflation in the XNUMXs and those afflicting the Italian economy today. “Today's problems – explains Visco – have causes that are not very different from those of yesterday: low competition, protected tertiary sector, inadequate services and corruption. But instead of seeing them projected into high inflation, we see them into consistently very low economic growth rates.
