Einaudi, Luigi (1874–1961)

Abstract

An outstanding Italian economist and influential figure on the broader political and cultural scene, Einaudi was born in Carru (Piedmont) on 24 March 1874 and died in Rome on 30 October 1961. He graduated in law from Turin in 1895 and then, while continuing with this studies, embarked on a career in journalism. The success he achieved in both fields underlined his rare talent and his endless capacity for work. In fact, his academic progress was so rapid that in 1907 he was appointed as professor of public finance at the University of Turin. Meanwhile, he wrote articles for the most influential Italian daily newspaper of the period, the Corriere delle Serra, which not only brought him national recognition but also earned him the reputation of ‘educator’ of the entire country. He became a member of the Senate in 1919, but retired from all political and public activity with the advent of fascism. Towards the end of the First World War he went into exile in Switzerland. On his return, he was appointed Governor of the Bank of Italy (1945), Vice-President of the Cabinet and Minister in charge of the Budget (1947), and was finally elected President of the Republic of Italy (1948–1955). At the end of his seven-year presidential term of office, he was made a life member of the Senate.

This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume