ITALIAN ECONOMIC MIRACLE
(ITALIAN: IL MIRACOLO ECONOMICO)
• Constant GDP growth
on average 5.9% each year, reaching the peak of 8.3 in 1961
• Industrial output peaked at over 10% each year
rate surpassed only by Japan and West Germany
• Practically full employment
• 1963: Investment reached 27% of GDP
FIAT 600, ICONIC MIDDLE-CLASS DREAM CAR
AND STATUS SYMBOL OF THE 1950-60S
OLIVETTI TYPEWRITER IN 1950S
MARSHALL PLAN
Marshall plan
expenditures
Source: wikipedia.org
EARLY CRITICISM: WILHELM RÖPKE
Will Dollars Save the
World?
- Henry Hazlitt (1947)
What do you think?
SOURCES USED:
Oscar Ornati, “Italian Economic Miracle”, www.jstor.org Social Research:1963
Economy of Italy, www.wikipedia.org
Olivetti, en.academic.ru
Marshall Plan, www.wikipedia.org