Italy is doing quite badly in many fields: from spending on research and development (1,3% of GDP against a European average of 1,9%) to employment among young people under 24 (less than 20% against more than 50% in Austria and Denmark). However, there are some indicators where the trends are more complex, particularly for debt. This is what emerges from a study published on Tuesday 27 October by Matignon (the French Palazzo Chigi) entitled "Les nouveaux Indicateurs de Richesse", which proposes indicators that are also interesting for Italy, since they make it possible to measure the state of the economy on the basis indicators complementary to GDP and consistent with the European Commission's Europe2020 strategy in favor of smart, sustainable and inclusive growth.
Italy's public debt is high. Indeed, very high. On the other hand, that of businesses and households is quite modest. Obviously, however, there is a crowding out on the financial markets which penalizes the private sector with respect to the public sector. Even with regard to indicators of well-being, the picture is not univocal. At 60, an Italian has an expected life expectancy of a further 22,6 years, like his Latin cousins (France and Spain) and the Swedes, and more than the others. And, although without nuclear power, Italy has the lowest CO2 emissions together with France.
Everything OK? Maybe not, because the assessment that Italians give of their quality of life (6,7 out of 10) is below average and very far from the values recorded in Scandinavia, but also in Germany and the United Kingdom (7,3), France and Spain , while the deprivation rate is the highest in the EU (24%, against 19,6%). After all, in our country there is also greater inequality in the distribution of income, which, moreover, after having decreased during the second Prodi government, has started to grow again since 2008.
In any case, what is certain is that exercises of this kind are essential to improve public policies, both at national and European level. We need to think over the long term and these indicators describe trends and progress in order to clarify the nature of the truly important challenges facing Italy and its rulers.
“Italy is doing quite badly in many fields: from spending on research and development (1,3% of GDP against a European average of 1,9%), to employment among young people under 24 (less than 20% against more than 50% in Austria and Denmark). This was reported by Andrea Goldstein, managing director of Nomisma for research, with reference to a study published on Tuesday 27 October by Matignon (the French Palazzo Chigi) entitled "Les nouveaux Indicateurs de Richesse", which offers interesting indicators also for Italy, allowing the state of the economy to be measured on the basis of indicators complementary to GDP and consistent with the European Commission's Europe2020 strategy in favor of smart, sustainable and inclusive growth.
“However, there are indicators in which the trends are more complex – Goldstein continues – in particular for high, indeed very high debt (that of the public sector), but on the other hand quite modest as regards that of businesses and households. Obviously, however, there is a crowding out on the financial markets which penalizes the private sector with respect to the public sector”.
Even with regard to indicators of well-being, the picture is not univocal. At 60, an Italian has an expected life expectancy of a further 22,6 years, like his Latin cousins (France and Spain) and the Swedes, and more than the others. And, although without nuclear power, Italy has the lowest CO2 emissions together with France.
"Everything OK? Maybe not - continues Goldstein -, because the assessment that Italians give of their quality of life (6,7 out of 10) is below average and very far from the values recorded in Scandinavia, but also in Germany and the United Kingdom (7,3) , France and Spain, while the deprivation rate is the highest in the EU (24%, against 19,6%). After all, in our country there is even greater inequality in the distribution of income, which, moreover, after having decreased during the second Prodi government, has started to grow again since 2008”.
In any case, “what is undoubted – concludes Goldstein – is that exercises of this type are essential to improve public policies, both at national and European level. We need to think in the long term and these indicators describe trends and progress in order to clarify the nature of the truly important challenges that Italy and its rulers have to face"
