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Ezio Tarantelli - Economic Theory and Industrial Relations pp 89–109Cite as

Tarantelli’s Economic Policy Proposals

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Abstract

This proposal represented a tool that even without reforming the industrial relations system, was meant to be an alternative to the monetarist policies to face the OPEC surplus. Deflation, and more importantly youth unemployment, through which the industrialized countries starting with the United States […] and Germany had to a great extent absorbed the internal industrial conflict, (also forcing their debtors in the more developed countries – like Italy – to try to re-absorb it through the “Damocles’ sword” of the withdrawal of foreign currency loans) was in fact often justified by the conditions of force majeure imposed by the surplus of OPEC.

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Notes

  1. 1.

    Tarantelli (1978 [5], p. 56).

  2. 2.

    Tarantelli (1978 [4], p. 527).

  3. 3.

    Tarantelli (1978 [4], p. 529).

  4. 4.

    Tarantelli (1978 [4], p. 531).

  5. 5.

    Carli and Tarantelli affirm “the saving accumulated by OPEC is not the result of an abstinence (voluntary) of expenditure, but derived from the technical incapacity to spend as a consequence of their scarce capacity of absorption. It is at this point that the first doubts arise regarding the possibility that the interest rate, which up until now the counterpart used as the price of this new forced saving, could in fact be the most appropriate price” (Tarantelli 1978 [4], pp. 531–532).

  6. 6.

    Mastracchio (1978, p. 43).

  7. 7.

    Spaventa (1980, p. 26).

  8. 8.

    D’Antonio-Onida (1978, p. 83).

  9. 9.

    D’Antonio-Onida (1978, p. 85).

  10. 10.

    From La forza delle idee, a documentary by Tarantelli’s son, Luca Tarantelli, we can learn that for the first time the hypothesis of predetermination was focused on by his father during a flight just before Christmas 1980, which was bringing him back to Italy from Boston. Here he had given a course on comparative industrial relation system at MIT.

  11. 11.

    Tarantelli (1995 [1], p. 115).

  12. 12.

    To the virtuous political exchange, Tarantelli contrasted the masochist one. The latter was configured as a scenery where the parties did not intend to cooperate, compromising in this way not only the macroeconomic performances, but also the governability of the system.

  13. 13.

    In the formulation of 1982, Tarantelli showed how the trade union, beyond predetermining inflation, should have also accepted the predetermination of the sliding scale increases. This will represent an element of Tarantelli’s proposal not acknowledged in January’s agreement. This lack was stigmatized by Modigliani and by Tarantelli himself. (Modigliani 2007 [1981], p. 118) and (Tarantelli 1982 [15], p. 50).

  14. 14.

    It seems useful to remember that also Caffè agreed about the validity of Sylos Labini’s conclusions. “Regarding the various proposals to contain the pretended inflationist effects of the sliding scale […], I have followed for a long time – he affirmed – […] a line which tends to go upstream that is the factors which set in motion the sliding scale. These factors are: variation in administered prices and tariffs, the missing application of quantitative reductions in imports and the absence of a shrewd use of the block of a very limited number of fundamental prices. […]. Even if it can seem dated, I believe that the large use of the so called “paragon sales”, publicity, even free, in the press, of cooperative shops which assured to maintain blocked prices, the rationing of some goods […], real forms of assistance for the elderly, for the rejected from the society and pensioners. These represents all achievable and unimaginative forms, as they defend those who suffer more because of inflation” (Caffè 1981, p. 9).

  15. 15.

    Sylos Labini (1981).

  16. 16.

    Tarantelli (1995 [1], pp. 116–117).

  17. 17.

    Fiorito (1981) and Fiorito (1984).

  18. 18.

    Tarantelli (1995 [1], pp. 116–117).

  19. 19.

    We refer to the inter-confederal agreement 26th January 1977 for the regulation of benefits and seniority increases, of the abnormal effects of the sliding scale, holidays, shift work, overtimes, internal mobility and absences from work.

  20. 20.

    Carli (2008 [1977], p. 155).

  21. 21.

    Fratianni (1978) and Fratianni (1980).

  22. 22.

    Tarantelli (1981 [1]).

  23. 23.

    Tarantelli (1995 [1], p. 115).

  24. 24.

    Tarantelli (1982 [15], p. 50).

  25. 25.

    Okun (1975) and Okun (1978).

  26. 26.

    Tarantelli (1982 [15], p. 51).

  27. 27.

    Tarantelli (1981 [1], p. 208).

  28. 28.

    Monti when referring to Tarantelli’s proposal observed “it does not face in any way the distortion of the actual sliding scale. That which, agreeing on the coverage of imported inflation, raises the national employers in insurance companies who are obliged to guarantee real wages for their employees for any event that could happen in the world. There would be no surprise if then these insurance companies tried to offload the cost of this crazy management – and maybe something even more absurd – through a higher inflation or higher taxation” (Monti 1981).

  29. 29.

    Tarantelli (1981 [20], p. 21).

  30. 30.

    Tarantelli (1981 [20], p. 11).

  31. 31.

    Forcellini (1981, p. 11).

  32. 32.

    Tarantelli (1981 [20], p. 20).

  33. 33.

    Spaventa (1981)

  34. 34.

    (Tarantelli, Il mondo dell’economia, 16 June 1984).

  35. 35.

    Tarantelli (1983 [12], pp. 559–560)

  36. 36.

    Napoleoni (1981).

  37. 37.

    Modigliani (2007 [1981], p. 118).

  38. 38.

    Modigliani (2007 [1981], p. 118).

  39. 39.

    Modigliani (2007 [1981], p. 118).

  40. 40.

    Modigliani (2007 [1981], p. 118).

  41. 41.

    Forcellini (1981, p. 12).

  42. 42.

    “2. Immediate Government measures on public tariffs and prices. 2.1 Coordination of tariff policy in some sectors, i.e. transport, and tariff fixation for a year, with adjustments or blocks – depending on the situation – in every case with the objective of taking them back to growth rate inferior to that of the inflation fixed by the Government. 2.2 Reduction measures of some prices and tariffs with a compensatory intervention by the Government (Sylos Labini hypothesis) 2.3 Double tariff (day and night) for energy and a further differentiation between telephone tariffs 2.4 Energy saving measures: planned blackouts for civil consumption – eventually alternating number plates. 2.5 Adjustment of curtailment measures for some non-European imports and price controls on some essential import products (of different prices and provenience) 2.6 Government negotiation on prices of the leader firms that influence the market in some essential sectors on the basis of administrative and financial tools of intervention which the State uses: intervention on 60 big firms for a limited number of products. 2.7 Adjustment of fair rent to the programmed inflation rate 2.8 Adjustment of the insurance sectors tariffs to the programmed inflation rate […] 5. Social provision. 5.1 Distinct management of different provisional funds, maintaining the unity of the provisional system 5.2 Increase in the contribution of businessmen and employees in close relation with the financing of the employees Fund and with the improvement of pensions (quarterly, minimum 80%). 5.3 Increase in contributions of self employed workers (farmers, artisans, tradesmen) with differentiations based on the obtained income. 5.4 The introduction of a ticket for medical consultations, analysis and hospital admission for who have an annual income higher than 20 million after tax (with the right of taxable deduction). 6. Tax policy 6.1 Immediate approval of measures against tax evasion (cash register, handcuffs for evaders) 6.2 Implementation of measures already prefigured for the re-organization of financial administration. 6.3 Reorganization of real estate imposition with an increase of the tax burden on the second house, taking into account the income of the owners. 6.4 Implementation of a decentralization of tax charging in favour of local authorities, starting with the real estate tax. Development programs for restructuring in some fundamental sectors, such as – energy; – agroindustry; – transport; –chemicals; –iron and steel industry; – communications and electronics. See CGIL (1981, pp. 2–4). Tarantelli gave his opinion regarding this in a short part of the interview released in ‘Politica ed economia’. Compare Tarantelli (1981 [20], p. 11).

  43. 43.

    Tarantelli (1981 [20], p. 20).

  44. 44.

    Accornero (1983, p. 123).

  45. 45.

    Accornero (1983, p. 123).

  46. 46.

    Accornero (1983, p. 127).

  47. 47.

    Accornero (1983, p. 127).

  48. 48.

    IRIO (1984, p. 31).

  49. 49.

    IRIO (1984, p. 32).

  50. 50.

    Dal Co (1983, p. 132).

  51. 51.

    Dal Co (1983, p. 130).

  52. 52.

    Mariucci (1983, p. 152).

  53. 53.

    Tarantelli (1983 [8], p. 75).

  54. 54.

    Modigliani (1983).

  55. 55.

    Tarantelli (1983 [8], p. 75).

  56. 56.

    Tarantelli (1983 [8], p. 74).

  57. 57.

    Modigliani (2007 [1981], p. 118).

  58. 58.

    Tarantelli (1981 [20], p. 21).

  59. 59.

    Tarantelli clarified, “I do not think that until PCI will be in opposition, a Government can deserve a wide social pact. But I think that the possibility of a delimited social pact as the one I have implicitly proposed should be not excluded prior” (Tarantelli 1981 [20], p. 21).

  60. 60.

    Tarantelli (1983 [8], p. 77)

  61. 61.

    Tarantelli (1983 [8], p. 77)

  62. 62.

    Tarantelli (1983 [8], p. 77)

  63. 63.

    Tarantelli (1983 [8], p. 77).

  64. 64.

    Tarantelli (1983 [8], p. 77).

  65. 65.

    Crea (1999 [1983], p. 505).

  66. 66.

    Crea (1999 [1983], p. 507).

  67. 67.

    Tarantelli (1985 [7], p. 567).

  68. 68.

    Pedone (1985, p. 3). As regards the shield of the unemployed see also Politica ed economia (1995).

  69. 69.

    Tarantelli (1985 [7], p. 569).

  70. 70.

    Pedone (1985, p. 4).

  71. 71.

    Tarantelli (1985 [6], pp. 11–12).

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  1. Department of Economics, University of Florence, Florence, Italy

    Giovanni Michelagnoli PhD

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Michelagnoli, G. (2012). Tarantelli’s Economic Policy Proposals. In: Ezio Tarantelli - Economic Theory and Industrial Relations. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-22312-9_5

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