International Advances in Economic Research

, Volume 23, Issue 1, pp 39–50 | Cite as

Luigi Einaudi, the European Federation and the ECB’s Monetary Policy as Seen by Francesco Forte

  • Angelo SantagostinoEmail author


Francesco Forte dedicated three books to the figure of Luigi Einaudi. The first was published in 1982, the second in 2009, and the third in 2016. Through these books he provides a comprehensive analysis of the liberal thought of Einaudi. This article focuses on Forte’s exploration and comments regarding Einaudi’s views and proposals for the European Federation (Einaudi 2011) and the European Central Bank’s unconventional monetary policy. Forte’s analysis of Einaudi has the merit of exalting one of the most prominent and lesser known features of his thought. Einaudi appears as the architect of what we call today the European Union. However no historian, economist, or politician has ever recognized the fundamental role of Einaudi. This lack of recognition should be extended to the Eurotower banker whose unconventional monetary policy has drawn so much from Einaudi’s theory of financial stability.


Luigi Einaudi European Federation Fiscal federalism Subsidiarity EU 

JEL Classifications

E62 N10 


  1. Einaudi, L. (2011). For an European Economic Federation (1943) and The economic problems of the European federation, (1944). Now in Angelo Santagostino Ed. Luigi Einaudi. Gli scritti europei. Il commiato, Edizioni Giuseppe Laterza, Bari.Google Scholar
  2. Forte, F. (1982). Luigi Einaudi: il mercato e il buongoverno (p. 315). Torino: Einaudi.Google Scholar
  3. Forte, F. (2009) Governo sovranazionale e mercati globali (Supranational governments and global markets), in “L’Economia liberale di Luigi Einaudi”, Section IV, Chapter III, pp. 303–342, Leo S. Olschkli, editore, Firenze.Google Scholar
  4. Forte, F. (2016). Einaudi versus Keynes (p. 334). Torino: IBL Libri.Google Scholar
  5. Hayek, F. (1974) Prize Lecture in memory of Alfred Nobel, Stockholm, December 11.Google Scholar
  6. Santagostino, A. (2015) L’Unione Europea una visione liberale, Rubbettino.Google Scholar

Copyright information

© International Atlantic Economic Society 2016

Authors and Affiliations

  1. 1.Jean Monnet ad personam Chair in European economic integration, Faculty of Political SciencesAnkara Yildirim Beyazit UniversityAnkaraTurkey

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