Italian Economist Warns Of Revolution By Unemployed Youth


Europe was already an ageing gerontocracy. Now the Old World must deal with a striking rise of unemployment among youths.

Some scary statistics from Edoardo Campanella at Project Syndicate:

  • Unemployment rate for youth… rose by six percentage points in the OECD area from 2007 to 2009, with Spain experiencing an alarming 42% youth unemployment rate in 2010.
  • In this sense, Italy represents an extreme case, since even highly skilled young workers, though usually over the age threshold of the youth-unemployment rate (29.5% in the country), are being marginalized.
  • According to a study by LUISS University, half of the country’s top business leaders and political officials are 60 or older.
  • Moreover, the national statistical institute, ISTAT, points out that in 2009 about 60% of people aged 18-34 (and 30% among people aged 30-34) were living with their parents as a result of their inability to support themselves.

Campanella, an economic advisor to the Italian senate, warns “violent protests could lead to a revolutionary wave similar to 1968.” Sounds like a good choice for economically stagnant Italy.

Read more: The Scary Reason Europe Is Doomed To Crisis After Crisis After Crisis