Protocollo di Luglio e crescita economica: l’occasione perduta

Name: Protocollo di Luglio e crescita economica: l’occasione perduta
Brand: Vita e Pensiero
Price: 6.00 EUR
Availability: OnlineOnly

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Issue

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2005 - 2

Title

Protocollo di Luglio e crescita economica: l’occasione perduta

Author

Leonello Tronti

Publisher

Vita e Pensiero

Format

Article |

Pdf

Pages

Online from

04-2005

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

The paper aims at explaining the ineffectiveness of the tripartite social pact of July 1993 (the so-called July Protocol) in fostering growth, further to curbing inflation and favouring employment. In the light of labour productivity dynamics, wage moderation after 1993 appears as a significant wage deflation. In an economy with relevant segments sheltered from international competitiveness, privatisations and wage deflation have combined in favouring rent accumulation; so that, unexpectedly, wage moderation has combined with a sensible competitive loss and with slow growth. Changes in the fundamental relationships among growth, profits, investment and employment show deterioration in the quality of new jobs and an employment-productivity tradeoff, which are discussed with refer- ence to innovation, workplace re-organisation and relational goods accumulation. Within the industrial relations system, major shortcomings can be traced to the poor engagement of social partners in preserving the credibility of the Pact. The concluding recommendations aim at resolving the incompleteness of the Protocol, and helping the Italian economy to enter the «high road» to competitiveness.