Introduction

The aim of the essay is to prepare a proposal concerning the Italian economy crisis and provide a solution to the same in terms of bringing the issue out in the public for drawing the attention of the respective authorities. This is divided into two discrete parts while the first part of the essay deals with the background research of the issues and analysis of the problem, the second part of the essay deals with the solution to the problem.  

Discussion

One of the crucial issues of the Italian economy is the failure of successful growth and development due to the factors like the complete dependence in the oil imports due to the lesser availability of natural resources (Costa et al.). This is further escalated due to the factors like long period of stagflation, lower economic growth, higher rate of unemployment and very high inflation rate. One of the primary issues associated with the economic crisis of the country is the high rate of unemployment and it has argued that the high rate of unemployment of the world is found in Italy due to the fact of high budget deficit which even go up to the level of 5% (Lagravinese et al.). One of the major reasons for the high rate of unemployment in Italy is due to the abysmal rate of production. It is also to be noted that the growth of the GDP is slow compared to the other countries of the world and the southern regions of the world is even in worse situation. It has been observed that the economic output is low due to the growth GDP (Leonardi et al.). It is further argued that the there is eye-widening gap between the north and the south in terms of wealth (Fedeli et al.) The impact of globalization on the Italian economic crisis is important to consider sine the falling job market and unemployment is one of the global phenomena. Moreover, the impact of the international financial crisis is severe for the countries of the world, for example, the financial crisis of 2008 led to successive economic debt (Marelli et al.). This is escalated by the crisis in the bank and liquidity issues of the market. It is not to rule out the fact that the crisis in the bank of Italy with the global crisis of finance led to the domestic issues of large scale unemployment (Piazza et al.). In case of the impact of culture on the Italian economic crisis, it can be argued that the political culture of the ruling class has also led to the mishandling of the economic issues of Italy (Rosolia). It can thereby be argued that the issues of unemployment were further challenged with the changing global order.

The entrepreneurial solution

An entrepreneurial solution to the issue of unemployment is source of entrepreneurship or any other business ownership to create employment and generate economic growth. Since the problem is associated with the Italian economy, it can be argued that the economy has faced the crisis period where there were large number of loss in the traditional jobs. Moreover, it has been observed that it is important to consider the solution to the problem of unemployment. Firstly, it is important to create multiple partnerships in segments.  This refers to the creation of multiple, stakeholders to avoid being channelization of resources in one particular direction. Hence it is significant to look into one of the innovative approaches to raise awareness. Some of the innovative approaches taken up here are: an editorial would be presented for creating awareness and teaching out to the targeted customers. For example, it the editorial would be focused on targeting the issue of unemployment and the targeted population for the solution is the Youth. Hence the editorial would be focused on drawing upon the points of unemployment and the issues they are facing. The target audience for the solution would be the youth falling in the age group of 22 to 35 who are facing the issue of large scale unemployment and opt out smaller job opportunities.  This will be focused on highlighting the issues of the average rate of unemployment of the Italian youth in order to make a comparative analysis of the data of various counties with similar issue. It will also be highlighting the issue of other EU members to understand the reasons behind the unemployment in Italy. However, it is not to rule out the fact that writing an innovative editorial and depicting the burning issues of unemployment is marked with challenges. For example, the first challenge of voicing the source of the issues might create disagreement among the people of authority.  It might so happen that the criticism of the government policies will not be accepted by group of people since it is not expected to cater to any particular interest, hence there are chances of censorship or holding up the process of publication in case of the editorial. However, what is more crucial here is to understand the fact that the Emirati constitution provides for the relative right to free expression through the oral and print media, it will be kept in mind that the editorial is not to hurt anybody’s sentiment rater it is to find out the cause of the unemployment and voice the reason for that so that an immediate action could be taken in that regard. Hence to avoid any chances of violating the rights under the constitution, it will be made sure that the editorial is to the point and it does not go to the extent of hurting the sentiment of the government or the people of authority.

Conclusion

This paper made an analysis of the issue of Italian economy in crisis by identifying the targeted population affected. It can be concluded form the above discussion that the reasons behind the Italian crisis are due the internal and external factors and no one single reason is responsible for the same. The last part of the analysis is the presentation of the solution designed as the editorial to target the audience affected and understand the challenges associated with it. Hence it could be concluded form the above discussion that implementation of solution requires consideration of multiple challenges, however it is not to rule out the fact that the issues are to be changes through the adoption of innovative methods.

Reference

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Fedeli, Silvia, Vitantonio Mariella, and Marco Onofri. “Determinants of Joblessness During the Economic Crisis: Impact of Criminality in the Italian Labour Market.” Social Indicators Research (2018): 1-30.

Lagravinese, Raffaele. “Economic crisis and rising gaps North–South: evidence from the Italian regions.” Cambridge Journal of Regions, Economy and Society 8.2 (2015): 331-342.

Leonardi, Marco, and Giovanni Pica. “Youth unemployment in Italy.” No country for young people (2015).

Marelli, Enrico, and Elena Vakulenko. “Youth unemployment in Italy and Russia: Aggregate trends and individual determinants.” The Economic and Labour Relations Review27.3 (2016): 387-405.

Piazza, Gabriele, and Martin Myant. “Italy’s labour market reforms of 2012: Did they reduce unemployment?.” (2016).

Rosolia, Alfonso. “On the response of Italian wages to the unemployment rate.” Bank of Italy Occasional Paper 287 (2015).