In this book he once again advanced his strong criticism of the interpretation that ascribed the economic acceleration observed during the Giolitti era to a take-off, a big spurt, mostly determined by domestic developments. He fought for an alternative interpretation until his very last writings, against his “neo-gerschenkronian” opponents, as he labelled them.
Taking into account the global fluctuations of exchange rates so far, it is a rather safe prediction that, as of next year, the fluctuation band of the lats’ exchange rate against all other currencies, except the euro, will widen.