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The U.S. Could Learn from Italy

The New York Daily News, Opinion, July 23, 2014

Mineola, L.I.: Before stereotyping Italy as the epicenter of crony capitalism, Alexander Stille should consult the facts ("De Blasio and the two Italys," Op-Ed, July 21). For all its socio-economic ills, il bel paese remains the Eurozone's third largest economy. Even Stille admits that Italy's Gini coefficient of inequality, 31.9, is significantly lower than the U.S. at 45. Moreover, Americans' median net worth is a paltry $44,900 per adult, putting the U.S. in 19th place. Italy is ranked third. Its joblessness is a worrisome 12.7%, but that is dwarfed by Spain's 27%. Plus, Italy's new prime minister, Matteo Renzi, has emerged as Europe's most dynamic exponent of economic growth, investment and job creation. As for the much maligned Mezzogiorno , Stille should note that, in addition to the Versace fashion empire and the cloud computing advances of Calabria University's Domenico Talia, the south of Italy boasts positive entrepreneurial growth in Puglia and Sicily. When it comes to health care, the World Health Organization says Italy has the second best medical system in the world.

Rosario A. Iaconis,
Chairman,
Italic Institute of America

 
 
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