Bernd Bergmann

Posts by Bernd Bergmann

The Lost Heritage of Economic Freedom in Italy

Next Monday will be the sixtieth anniversary of Luigi Einaudi’s inauguration as Italian President. Einaudi (1874-1961) was a distinguished economist and defender of classical liberalism. In the immediate period following World War II, he was governor of the Bank of Italy and finance minister. Continue Reading...

Returning to the Real Economy

In the April 24 edition of the Vatican newspaper L’Osservatore Romano, Ettore Gotti Tedeschi focuses on the origins and lessons of the global financial crisis. In a previous article, Gotti Tedeschi argued that the downturn is an opportunity for Italy to reform its economy and cut down on unnecessary public spending. Continue Reading...

The Burden of Italian Red Tape

In yesterday’s Wall Street Journal Europe, Alberto Mingardi of Istituto Bruno Leoni (and long-time Acton friend) lists some of the reforms Italy needs to boost economic growth, which is forecast at a measly 0.6 – 0.8 percent for 2008. Continue Reading...

Should Water Have A Price?

In a front-page article of the March 20-21 edition of the Vatican’s newspaper, L’Osservatore Romano, entitled “L’aqua bene comune per tutti” (“Water: Common Good for All”), an Italian political scientist laments that a basic necessity of life is bought and sold. Continue Reading...

Bashing Globalization in the Name of European ‘Values’

Hostility towards globalization is not the exclusive territory of the left in Italy. Giulio Tremonti, a former minister of the economy in Silvio Berlusconi’s centre-right government, has written a book called Fear and Hope (La Paura e la Speranza), largely arguing against free trade and the opening of international markets. Continue Reading...

Can Any Good Come from a Recession?

Following its new-found interest in sound economics, the Vatican’s newspaper, L’Osservatore Romano, has turned its attention to what now seems to be a global downturn. The usual European trope is that the current troubles are the result of American overspending, overconsumption and unsustainable debt burdens, so it is very surprising to see a contrarian view in Sunday’s paper entitled “The Morality of the Recession.” Italian banker Ettore Gotti Tedeschi evaluates the credit crunch affecting the U.S. Continue Reading...