The Growth of the Italian Economy, 1820-1960

This volume in the New Studies in Economic and Social History series examines Italy's transformation from a largely rural state in the nineteenth century to today's industrial powerhouse. At the time of unification in 1861, much of the country was backward, poor, and agrarian: few would have believed that a hundred years later Italy would become one of the seven largest industrial countries, its people among the wealthiest in the world. This process of development and structural change has generated an enormous and evolving literature, alive with controversies and compelling insights. New research and reinterpretation of existing data have led to a reevaluation of the nature of Italian Dualism, while revisions to national income accounts are modifying the traditional picture of economic growth. Jon Cohen and Giovanni Federico provide a concise, up-to-date account of this literature, highlighting new views on old issues, and signalling areas in need of further research.