And memory is sometimes incomplete and distorted, even if I have had the benefit of some brief conversation with some of his closest collaborators during those years. 4 In any case, I am sure that my recollection of his accomplishments errs on the side of understatement. Let us remember that in the 1970s the Italian economy was plagued by substantial nominal and real instability.
High and volatile inflation rates preceded, accompanied, and followed a series of large and sometimes sudden depreciations of the currency, in a context of social unrest and substantial rigidities.