Einaudi e l'impresa pubblica

The essay explores Luigi Einaudi’s evolving perspective on State intervention and Stateowned enterprise. Einaudi considered public management as an «audacious experiment», recognizing its utility in breaking private monopolies in sectors like railways and local utilities to protect citizens. However, he consistently warned against the risks of administrative inefficiency, political patronage, and the risks of «crony capitalism», as in the experience of the World War I. While he initially saw the creation of IRI as a necessary tool to stabilize the economy after the 1929 crisis, he later criticized its permanent expansion, fearing it would «crowd out» private investments and distort the nation's economic model. In the post-WWII era, Einaudi criticized the lack of management accountability and the inherent contradiction between «economic and social» objectives in State-owned enterprises. In conclusion, his stance on State-owned enterprise and State intervention in the economy was never dogmatic, but was always characterized by a meticulous pragmatism.