Italy experience a price level that climbed high during the war. Due to the war and conflict the economy was left in shambles. “When 1945 came to a close the prices had risen more than 30 times the prewar level” Pg.598. Due to the fall of nation income the ending result was that the supply of goods and services had increased more than the money supply pg.598. I know the author is credible because he is an economist and not some random person on the street. This is published by an organization and they know what they are talking about and clearly these are facts that aren’t falsified in any way.
According to Statista “Government revenue and spending in Italy have been steady at around the 700 billion mark since around 2008”. Italy’s government spending was more than their revenue. From 2004-2014 a little more than 650 billion euros all the way up to more than 800 billion of spending. I know this site is credible because it is a statistics site that breaks down everything in great detail. They also don’t make up their facts they get their information from over 18,000 sources. According to economywatch Italy imports Engineering Products, Chemicals, Transport equipment, energy products, minerals and nonferrous metals, textiles and clothing, food and beverages, tobacco. Their main partners are Germany, France, China, Netherlands, Libya and Russia. Italy has seen its imports drop following the 2008 recession.
It decreased from 546.9 billion in 2008 to 358.7 billion in 2010. This is a reputable source because economywatch.com is trusted and gives out real information about a country’s economy. According to economywatch Italy exports engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals, food, beverages and tobacco, minerals and nonferrous metals. Their main partners are Germany, France, Spain, United States and the United Kingdom. The 2008 recession cut into Italy’s global trade badly. Its exports dipped from 546.9 billion in 2008 to 369 billion in 2010. The country’s economy still remained 8m in the world for export.
According to OECD “top income shares increased by more than a third. The richest 1% of Italians saw their share of total income increase from 7% in 1980 to almost 10% in 2008. That of the richest 0.1% increased from 1.8% to 2.6% in 2004. At the same time, the top marginal income tax rates were almost halved: from 72% in 1981 to 43% in 2010.” OECD believes that higher hours equal higher wages. Also OECD states that more people are marrying within the same earnings class. This is a legitimate source because the OECD (Organization of Economic Co»0peration and Development) is widely known and respected for this and they know about economics.
