Economy / Society

The Italian “relational capitalism”

 

In its yearly report to the Parliament, the Italian Antitrust Authority complained that the the country is still plagued by “relational capitalism”, id est an oligopoly of high-ranking entrepreneurs and State officers using their joint influence in order to distort the market.

In Italy this is called “salotto buono”, something like “the VIP room”.

The trend, which was rampant during the First Republic, was weakened by scandals, globalization and the advent of some outsiders. However, the “salotto buono” is still alive and kicking.

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