Journal title ECONOMIA E DIRITTO DEL TERZIARIO
Author/s Guido Alpa
Publishing Year 2011 Issue 2011/1 Language Italian
Pages 8 P. 7-14 File size 472 KB
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The reasons of the crisis affecting global economy, and therefore the Italian system, have been identified with approximation; the discussion is still ongoing and requires more time to fully understand that phenomenon. Anyway, first analysis highlight a sequence in which had a causal effect, among other factors: the crisis in the estate market in the United States, the diffusion of subprime mortgages, the spread of derivatives and high risk financial products, the unreliability of the rating criteria, and, more generally, the gradual prevalence of the financial economy over the real economy. The guidelines elaborated by national authorities are divisible in three different operational modes: interventions "ad adiuvandum" for the enterprises in crisis and in support to the financial system; abstention from any interference with the natural develop of the situation, supposing the Smith’s "invisible hand" will remedy the crisis; lack of decisions and of measures, that is a position similar to the abstention one, but that is more characterized by the deficiency of an overall assessment of the causes and of the possible remedies. In this context, it would be appropriate to rethink all components of the economic system, and especially the typologies of corporate governance.
Guido Alpa, Quale modello di governo dell’economia in Italia? in "ECONOMIA E DIRITTO DEL TERZIARIO " 1/2011, pp 7-14, DOI: 10.3280/ED2011-001001