In modern times inflation strikes economic systems with increasing frequency and for ever-longer periods. It is an illness to which no country is immune. It is not rare that the violence of inflation provokes damaging effects, not only on the strictly economic level, not only on the social level. It also extends to the political life of a country. In countries where the strength of the democratic system is thereby weakened, inflation can affect the system of liberty which is the very foundation of democratic political systems.


Monetary Policy Current Account Deficit Credit Policy Credit Expansion Italian Economy 
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Copyright information

© Banca Commerciale Italiana 1976

Authors and Affiliations

  • Emilio Colombo

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