From pandemic to war, from climate emergency to inflation: a mix of crises that makes the times we are experiencing crucial, highlighting some specific weaknesses of Europe.
This is the heart of the analysis that emerges from the Report 'The post-global world', the result of the collaboration between the 'Luigi Einaudi' Research and Documentation Center and Intesa Sanpaolo, presented in Milan.
"All four crises affect a world economy that is rapidly losing its global character and equally rapidly reducing its capacity for growth", explains the research curated by Mario Deaglio, which continues the 25-year experience of the Report on the economy. global and Italy.
In particular, "the political and economic-industrial criticalities that are emerging from the Ukrainian conflict, alongside the reappearance of inflationary dynamics, which mature economies have not experienced for decades, cannot fail to influence, among other things, the objectives set by Recovery and Resilience Facility outlined by the European Commission and of which Italy is the main beneficiary ".
Also because, the study explains,
“The new inflation - a mix of technical problems linked to the increasingly worse functioning of many global value chains, from food to microchips - is profoundly different from the inflationary phenomena of the last century.
Against it the 'traditional cures', of a fiscal and monetary nature, have proved to be ineffective ”.
Recent events “have unfortunately exposed the energy vulnerability of the Old Continent and, in concert, the difficulty in achieving the green objectives, although culturally very attractive”, warns the Report.
“And since the world does not wait, Europe will soon have to deal, alongside these issues, also with health coordination, support for unemployment and young people, armed forces.
And the revision of the Treaties ".
A detailed analysis of Italy fits into this framework: “an economy that expresses areas of excellence but remains burdened by the presence of too many micro-enterprises, because the regulatory mechanisms have encouraged them to remain small”.
92% of private employees are in fact employed in companies with less than 50 million in turnover.
So here are the proposals that are put forward:
a tax reform that makes it convenient to work and invest;
a review of the merger tax framework that encourages small businesses to grow;
the introduction of the family quotient in direct taxation and the experimental introduction of the four-day working week, supplemented by distance learning activities.
In collaboration with:
Intesa Sanpaolo Spa