Alcune considerazioni critiche intorno al “sovranismo”

Abstract

This paper aims at discussing the macroeconomic effects of the option of leaving the euro on the part of Italy. This option is connected with the so-called sovereignism. It will be argued that the devaluation of the new Italian currency would (i) reduce real wages, worsening income distribution; (ii) would reduce the rate of growth of labour productivity and hence economic growth; (iii) would generate financial turmoils. On the political ground, sovereignism is in line with an right wing view, although it is supported by many Italian economists who define themselves leftist.

Sovereignism; Euro; Productivity; Economic Growth.