Conclusion: Towards the Seventeenth Century

Abstract

The second half of the sixteenth century was the ‘Indian summer’ of the Italian economy. In that Indian summer, however, were sown the seeds of future difficulties. Reconstruction there was, but it was restoration of old structures, and recovery took place along traditional lines. The guild organization was strengthened, but all the guilds achieved was to prevent competition and innovation. Italy became progressively less competitive in international markets — at a moment when Italy could ill afford the luxury of becoming less competitive.