Plans by the Italian government for a deficit of 2.4 % instead of pursuing the adjustment path agreed with the EU have led to a sharp increase in the yields on Italian debt, with the yields on ten-year bonds rising above 3%. Italy seems to be only one step away from such an explosive feedback loop.
We interviewed Jeffrey Sachs on the occasion of the book launch of the Italian edition of his “Building the New American Economy”. He reflected on the state of the affairs of the American economy during the first year of Trump presidency, covering international political economy, trade policies and some good reasons to look forward to the future.
Professor Sachs is one of the world’s foremost development economists and his book “Building the new American economy” has just been translated in Italian. In this interview, he explains why Trump has been “much worse” than he imagined and how the new President is getting it wrong on international trade (although he is right in pointing to the uneven distributional effects of globalization)
On the occasion of Jeffrey Sachs’ participation in the meeting “Processo all’economia. Demografia, democrazia, mercati, felicità”, organized by LUISS, an extract from his latest book “Building the New American Economy”, with the Italian translation out soon for LUISS University Press. Despite some negative signs, Sachs argues that there is reason to be optimistic about the future