{"id":27231,"date":"2011-07-12T21:28:47","date_gmt":"2011-07-12T21:28:47","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/sean_ogrady_ageing_italians_on_the_slow_train_to_ruin\/"},"modified":"2011-07-12T21:28:47","modified_gmt":"2011-07-12T21:28:47","slug":"sean_ogrady_ageing_italians_on_the_slow_train_to_ruin","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=27231","title":{"rendered":"Sean O&#39;Grady: Ageing Italians on the slow train to ruin"},"content":{"rendered":"<p>&#8230;everyone knows that Italy is on the slow train to ruin. Her public finances have been reasonably well run, but the economic fundamentals are skewed against her. Her poor demographic mean fewer workers \u201d\u201c and thus taxpayers and savers \u201d\u201c to fund the health and social costs of a greying populous. And, like Portugal and Greece, she is fundamentally uncompetitive, unable to match German levels of productivity and exports.<\/p>\n<p>Il miracolo economico of the 1960s \u201d\u201c symbolised by millions of little Fiat 500s pouring out of bustling Turin \u201d\u201c was possible because a vast reservoir of underemployed agricultural workers could be lured into the cities. That cannot be repeated.<\/p>\n<p><a href=\"http:\/\/www.independent.co.uk\/news\/business\/comment\/sean-ogrady-ageing-italians-on-the-slow-train-to-ruin-2312228.html\">Read it all<\/a>.<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230;everyone knows that Italy is on the slow train to ruin. Her public finances have been reasonably well run, but the economic fundamentals are skewed against her. Her poor demographic mean fewer workers \u201d\u201c and thus taxpayers and savers \u201d\u201c<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=27231\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,50,460,595,592,149,591,200,590,448,599,601],"tags":[],"class_list":["post-27231","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-international-news-commentary","category-european-sovereign-debt-crisis-of-2010","category-credit-markets","category-currency-markets","category-economy","category-euro","category-europe","category-european-central-bank","category-italy","category-stock-market","category-the-fiscal-stimulus-package-of-2009"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/27231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27231"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/27231\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}