Friday, November 11, 2011

All Italy all the time

Crony capitalism is bad in the US but the Italians have it down to a science. The government routinely appoints the management at many of the largest Italian companies. In fact they arbitrarily change laws to entrench management! It appears the whole system exists to enrich the privileged and the connected and that system doesn't want to change. This sounds very similar to Wall Street circa 2007 - can Italy be saved from itself?

No comments:

Post a Comment