Addressing the Italian Economic Crisis: A Proposed Solution

This project analyzes the Italian economic crisis, focusing on its causes, including dependence on oil imports, stagflation, high unemployment, and inflation. It examines the impact of globalization and the 2008 financial crisis, as well as cultural and political factors. The paper proposes an entrepreneurial solution to address high unemployment, particularly among the youth, through creating partnerships and raising awareness via an editorial. The editorial aims to highlight unemployment issues and advocate for solutions, acknowledging challenges like potential censorship. The conclusion emphasizes the need for innovative methods to address the crisis and acknowledges that the implementation of a solution requires consideration of multiple challenges.

Running head: ITALIAN ECONOMIC CRISIS
ITALIAN ECONOMIC CRISIS
Name of the student
Name of the university
Author Note

Introduction
The aim of the essay is to prepare a proposal concerning the Italian economy crisis and
provide a solution to the same in terms of bringing the issue out in the public for drawing the
attention of the respective authorities. This is divided into two discrete parts while the first part
of the essay deals with the background research of the issues and analysis of the problem, the
second part of the essay deals with the solution to the problem.
Discussion
One of the crucial issues of the Italian economy is the failure of successful growth and
development due to the factors like the complete dependence in the oil imports due to the lesser
availability of natural resources (Costa et al.). This is further escalated due to the factors like
long period of stagflation, lower economic growth, higher rate of unemployment and very high
inflation rate. One of the primary issues associated with the economic crisis of the country is the
high rate of unemployment and it has argued that the high rate of unemployment of the world is
found in Italy due to the fact of high budget deficit which even go up to the level of 5%
(Lagravinese et al.). One of the major reasons for the high rate of unemployment in Italy is due
to the abysmal rate of production. It is also to be noted that the growth of the GDP is slow
compared to the other countries of the world and the southern regions of the world is even in
worse situation. It has been observed that the economic output is low due to the growth GDP
(Leonardi et al.). It is further argued that the there is eye-widening gap between the north and the
south in terms of wealth (Fedeli et al.) The impact of globalization on the Italian economic crisis
is important to consider sine the falling job market and unemployment is one of the global

phenomena. Moreover, the impact of the international financial crisis is severe for the countries
of the world, for example, the financial crisis of 2008 led to successive economic debt (Marelli et
al.). This is escalated by the crisis in the bank and liquidity issues of the market. It is not to rule
out the fact that the crisis in the bank of Italy with the global crisis of finance led to the domestic
issues of large scale unemployment (Piazza et al.). In case of the impact of culture on the Italian
economic crisis, it can be argued that the political culture of the ruling class has also led to the
mishandling of the economic issues of Italy (Rosolia). It can thereby be argued that the issues of
unemployment were further challenged with the changing global order.
The entrepreneurial solution
An entrepreneurial solution to the issue of unemployment is source of entrepreneurship or
any other business ownership to create employment and generate economic growth. Since the
problem is associated with the Italian economy, it can be argued that the economy has faced the
crisis period where there were large number of loss in the traditional jobs. Moreover, it has been
observed that it is important to consider the solution to the problem of unemployment. Firstly, it
is important to create multiple partnerships in segments. This refers to the creation of multiple,
stakeholders to avoid being channelization of resources in one particular direction. Hence it is
significant to look into one of the innovative approaches to raise awareness. Some of the
innovative approaches taken up here are: an editorial would be presented for creating awareness
and teaching out to the targeted customers. For example, it the editorial would be focused on
targeting the issue of unemployment and the targeted population for the solution is the Youth.
Hence the editorial would be focused on drawing upon the points of unemployment and the
issues they are facing. The target audience for the solution would be the youth falling in the age
group of 22 to 35 who are facing the issue of large scale unemployment and opt out smaller job

opportunities. This will be focused on highlighting the issues of the average rate of
unemployment of the Italian youth in order to make a comparative analysis of the data of various
counties with similar issue. It will also be highlighting the issue of other EU members to
understand the reasons behind the unemployment in Italy. However, it is not to rule out the fact
that writing an innovative editorial and depicting the burning issues of unemployment is marked
with challenges. For example, the first challenge of voicing the source of the issues might create
disagreement among the people of authority. It might so happen that the criticism of the
government policies will not be accepted by group of people since it is not expected to cater to
any particular interest, hence there are chances of censorship or holding up the process of
publication in case of the editorial. However, what is more crucial here is to understand the fact
that the Emirati constitution provides for the relative right to free expression through the oral and
print media, it will be kept in mind that the editorial is not to hurt anybody’s sentiment rater it is
to find out the cause of the unemployment and voice the reason for that so that an immediate
action could be taken in that regard. Hence to avoid any chances of violating the rights under the
constitution, it will be made sure that the editorial is to the point and it does not go to the extent
of hurting the sentiment of the government or the people of authority.
Conclusion
This paper made an analysis of the issue of Italian economy in crisis by identifying the
targeted population affected. It can be concluded form the above discussion that the reasons
behind the Italian crisis are due the internal and external factors and no one single reason is
responsible for the same. The last part of the analysis is the presentation of the solution designed
as the editorial to target the audience affected and understand the challenges associated with it.

Hence it could be concluded form the above discussion that implementation of solution requires
consideration of multiple challenges, however it is not to rule out the fact that the issues are to be
changes through the adoption of innovative methods.

Reference
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Lagravinese, Raffaele. "Economic crisis and rising gaps North–South: evidence from the Italian
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people (2015).
Marelli, Enrico, and Elena Vakulenko. "Youth unemployment in Italy and Russia: Aggregate
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387-405.
Piazza, Gabriele, and Martin Myant. "Italy's labour market reforms of 2012: Did they reduce
unemployment?." (2016).
Rosolia, Alfonso. "On the response of Italian wages to the unemployment rate." Bank of Italy
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