The Nature and Evolution of Capitalism in Italy

17 Pages Posted: 23 Nov 2015

Date Written: November 23, 2015


This article is the outcome of analysis of the nature and evolution of capitalism in Italy in the last 40 years, based on a review of the scientific literature and personal experience of the author. The aim of article is to formalize an ordered and concrete concept of actual Italian Capitalism, including creation of “Italian Capitalism Map”. The article compares the definitions of capitalism, used by different authors and academic institutions. These definitions reflect the history and process of economy development in Italy. The article conclude about the weak theoretical and methodological level of analysis of the nature of capitalism in Italy, where scientist are still use classic definitions of Adam Smith and Karl Marx. The author conducts a study of existing varieties of capitalism, both in Italy and in the world (how this phenomenon is seen in Italy). Special attention is paid to phenomenon of proto-capitalism, to the concept of crony capitalism, to division of capitalism in three sections: Personal-individual capitalism, Managerial capitalism and Rhenish-Japanese capitalism and to grade of state’s share in economy. The paper proposes to highlight five actors in Italian Capitalism: European Union Government Structures, National Government, Small & Medium Enterprises, Big Businesses, and Customers. The paper discusses relations and contradictions between these actors in Italian economy. Author also tries to predict a way of modern capitalism evolution in near future. As conclusion of research, Author proposed the “Italian Capitalism Map”, a kind of visualization of most important features of capitalism in Italy.

Keywords: Capitalism, Italian Capitalism, crony capitalism, varieties of capitalism.

JEL Classification: P16

Suggested Citation

Campa, Antonio, The Nature and Evolution of Capitalism in Italy (November 23, 2015). Available at SSRN: or

Antonio Campa (Contact Author)

Chelyabinsk State University ( email )

129 Br. K​ashirinykh str.
Chelyabinsk, 454001

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