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How Italy became a submerging economy


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2014 Jul 14, 11:05am   19,190 views  81 comments

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Economic decline takes many shapes. In the northern Italian town of Ivrea, it looks like the abandoned, overgrown tennis courts where the employees of electronics giant Olivetti SpA once played.

In the 1980s, Ivrea was a European version of Silicon Valley. Of the 50,000 people employed by Olivetti, half worked in the town, enjoying generous salaries and plush corporate recreation facilities. Today Ivrea's biggest employers are the state health service and two call centres. Together they employ 3,100 people.

Olivetti still exists, but these days it is a small office machinery company. Its former factories, jewels of 20th-century industrial architecture, have been refashioned as museums. Most of Ivrea's 30-year-olds have little work and live off their parents’ pensions.

http://www.reuters.com/article/2014/07/14/us-italy-economy-submerging-specialrepor-idUSKBN0FJ0QT20140714

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81   New Renter   2014 Jul 16, 4:06am  

Bellingham Bill says

I don't see why it can't support 100 billion people eventually.

Depends - is everyone willing to spend their lives treating the earth like the spaceship it is? That is existing on the absolute minimum of space, calories, oxygen and possessions then sure.

But would you really want your kids to have to exist like that?

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