The 110th anniversary of the Rivista di Politica Economica at Luiss
The 110th anniversary of the Rivista di Politica Economica at Luiss
Rome, February 8, 2022 – Demographic winter, population decline, and a low birth rate. This is the theme of the second volume of Confindustria’s Rivista di Politica Economica (the first, released in June, addressed environmental sustainability and innovation). This publication, now in its 110th year, continues to offer well-researched and forward-thinking insights into phenomena that will significantly impact the economy and society in the medium and long term. It reflects the attention and commitment that entrepreneurs have always shown to national trends and developments.
Founded in 1911, the Rivista di Politica Economica—recognized with the High Cultural Value Award by the Ministry of Cultural Heritage and Activities in 1993—is one of Italy’s oldest and most prestigious economic publications. Over the years, it has featured the most distinguished internationally renowned speakers, including several Nobel laureates in economics, who have taken part in the Lectio Magistralis and numerous conferences promoted through the journal. That's why the publication has always been recognized as a forum for in-depth analysis, cultural exchange, and the free discussion of ideas based on evidence and data.
And it was precisely in this spirit that the presentation of the second commemorative volume of the Rivista di Politica Economica, “La deriva demografica. Popolazione, economia, società,” was held this afternoon at the Luiss Guido Carli University with the support of Unicredit. Population, Economy, Society,”which focuses on the issues of demography and its implications for Italy and Europe.
The discussion, which featured speakers including Giovanni Brugnoli, Confindustria’s Vice President for Human Capital; Pier Carlo Padoan, President of Unicredit; Vincenzo Boccia, President of Luiss Guido Carli University; and Stefano Manzocchi, Vice Rector for Research at Luiss Guido Carli University and Editor of the Rivista di Politica Economica, clearly shows that Italy is experiencing a demographic winter. This has been further exacerbated by the pandemic, which has led to both excess mortality—especially among the elderly—and a much larger decline in births than initially forecast. The aging of the population in Italy reached record levels on the international stage, even during the pandemic. In 2020, the average age of the population was 46, up from 45.7 the previous year.
However, the path toward a shrinking Italian population—fueled by a slowdown in incoming migration, an aging population, and a low birth rate—undermines one of the key conditions for economic development and the sustainability of our welfare systems. This underscores how the current crisis stems from long-term trends and ineffective measures.
As highlighted during the discussion, Italy’s structural demographic imbalances can only be mitigated in the medium to long term if we restore a central role to young people and women in the country’s growth. This means supporting their potential for innovation and skills through bold initiatives that benefit families and foster the economic and professional autonomy of the younger generation. Following the example of what is already happening in Europe. And this calls for a strong commitment and responsibility from all social and political stakeholders to overcome the delays and obstacles that have accumulated to date.
Indeed, our country is facing a critical situation regarding the female employment rate and the proportion of young people who are neither employed nor in education. Just consider that the female employment rate is nearly twenty points lower than that of men, making it the largest gap in Europe. And that young people in Italy who are neither studying nor working now make up 23.3% of the population aged 15 to 29 (nearly one in four young Italians). A situation that the pandemic has further worsened. For the first time since 2013, the female employment rate fell below 50% in 2020 (to 49%). The figure for young women is even more alarming at 33.5%, as is the female employment rate in Southern Italy (32.5%).
The issue of the magazine, edited by Stefano Manzocchi, is available online on the Confindustria website at the following link: