HistoricalPeriod
Italian economic miracle
Overview
The Italian economic miracle (Italian: miracolo economico italiano), or the Italian economic boom (Italian: boom economico italiano), is the term used by historians, economists, and the mass media, first attributed by the Daily Mail in a correspondence from Rome on 25 May 1959, to designate the prolonged period of strong economic growth in Italy after World War II to the late 1960s, and in particular the years from 1958 to 1963.
This phase of Italian history represented not only a cornerstone in the economic and social development of the country—which was transformed from a poor, mainly rural, nation into a global industrial power—but also a period of momentous change in Italian society and culture. As summed up by one historian, by the end of the 1970s, "social security coverage had been made comprehensive and relatively generous. The material standard of living had vastly improved for the great majority of the population."
Overview adapted from Wikipedia (CC BY-SA 4.0; see the article history for authors).
Place in the tradition
Part of Social democracy.