Luigi Einaudi
Luigi Einaudi | |
|---|---|
| Born | Luigi Numa Lorenzo Einaudi Error: Invalid birth date for calculating age Carrù, Province of Cuneo, Piedmont, Italy |
| Died | 30 October 1961 (aged 87) Rome, Italy |
| Occupation(s) | Economist, banker, politician |
| Years active | Early 20th century – 1961 |
| Known for | President of Italy (1948–1955), Governor of the Bank of Italy (1945–1948) |
Luigi Numa Lorenzo Einaudi (24 March 1874 – 30 October 1961) was an Italian economist, banker, and politician who held the office of President of Italy from 1948 until 1955. He is widely regarded as one of the principal architects of the Italian Republic.
Early life
Born in Carrù, located in the province of Cuneo, Piedmont, Einaudi was the son of Lorenzo Einaudi and Placida Fracchia. He attended Liceo classico Cavour in Turin, where he began to explore socialist philosophies and contributed to the publication Critica sociale. Despite initial financial hardships, he graduated in law in 1895 and subsequently held teaching positions at the University of Turin, Polytechnic University of Turin, and Bocconi University in Milan.
Einaudi’s economic thought was aligned with the classical economic tradition, working alongside contemporaries such as Pietro Campilli, Epicarmo Corbino, and Gustavo Del Vecchio.
Early political life
In the early decades of the 20th century, Einaudi’s views shifted toward a more conservative ideology. In 1919, he was appointed as a Senator in the Kingdom of Italy. His career also encompassed journalism, contributing to prominent Italian newspapers including La Stampa and Il Corriere della Sera, as well as serving as a financial correspondent for The Economist. In 1925, he endorsed the Anti-Fascist Intellectuals Manifesto. Due to his opposition to Fascism, he halted his work with Italian press outlets from 1926 until after the regime’s collapse in 1943, when he resumed writing for Corriere della Sera. After the 1943 Armistice, he sought refuge in Switzerland and taught economics at the Geneva Graduate Institute before returning to Italy in 1944.
From January 1945 to May 1948, Einaudi held the position of Governor at the Bank of Italy. He was instrumental as a founding member of the Consulta Nazionale, which laid the foundation for the post-war Parliament of the Italian Republic. Between 1947 and 1948, he served as Minister of Finance, Treasury and Balance, and also held the office of Vice-Premier. Furthermore, he was affiliated with the neo-liberal intellectual group known as the Mont Pelerin Society.
In recognition of his contributions, Einaudi was elected an International Honorary Member of the American Academy of Arts and Sciences in 1935 and became an International Member of the American Philosophical Society in 1947.
President (1948–1955)
On 11 May 1948, Einaudi was elected as the second President of the Italian Republic, serving a full seven-year term before being appointed a Life Senator in 1955. Throughout his presidency, he engaged actively with numerous cultural, economic, and academic organizations.
A staunch advocate for European classical liberalism and libertarian principles, Einaudi introduced the term "liberismo" into Italian discourse to describe economic liberalism and exchanged intellectual arguments with figures such as Benedetto Croce. He also championed ideas related to European Federalism.
Einaudi managed a Nebbiolo vineyard near Dogliani, where he applied modern agricultural practices. In 1950, a satirical magazine published a caricature showing him at the Quirinal Palace surrounded by oversized Nebbiolo wine bottles adorned with institutional emblems. This depiction was considered an act of lèse-majesté, resulting in legal proceedings against the publication’s editor.
Personal life
On 19 December 1903, Einaudi wed Countess Ida Pellegrini (1885–1968), who hailed from the aristocracy of Verona. Their paths crossed when he served as her instructor at Turin's Regia School of Commerce. Their son, Giulio, gained prominence as an influential Italian publisher, while their grandson, Ludovico, achieved recognition as a distinguished neo-Classical composer. Another son, Roberto, pursued mechanical engineering and took charge of the family's vineyard operations.
Their son Mario, known for his professorship at Cornell University and anti-fascist activism, has the Mario Einaudi Center for International Studies named in his honor. Additionally, Mario established the Fondazione Luigi Einaudi in Turin to commemorate their father’s legacy. Mario's son is the diplomat Luigi R. Einaudi.
The Einaudi Institute for Economics and Finance (EIEF), a research institution affiliated with the Bank of Italy, bears Luigi Einaudi’s name.
Luigi Einaudi passed away in Rome on 30 October 1961 at the age of 87.
Bibliography
- Principi di scienza delle finanze (1932)
- Il buon governo (1954)
- Prediche inutili (1956–1959)
- Luigi Einaudi, "Tracotanze protezionistiche", Corriere della Sera, 12 November 1919
- Luigi Einaudi, "Via il Prefetto!", Gazzetta ticinese, 17 July 1944
- Luigi Einaudi, On Abstract and Historical Hypotheses and on Value Judgments in Economic Sciences, Routledge, New York–London, 2016
Sources
- Acocella, N. (ed.), Luigi Einaudi: studioso, statista, governatore, Carocci, Roma, 2010.
- Forte, F., Marchionatti, R., "Luigi Einaudi's economics of liberalism," The European Journal of the History of Economic Thought, 2012.
- Giordano, A., "Luigi Einaudi and the Dilemmas of Liberal Democracy," Notizie di Politeia, 2004.
- Silvestri, P., "The ideal of good government in Luigi Einaudi's Thought and Life," in Heritier & Silvestri (eds.), Good government, Governance, Human complexity. Luigi Einaudi's legacy and contemporary societies, Leo Olschki, Firenze, 2012.
- Silvestri, P., Preface and essays in L. Einaudi, On Abstract and Historical Hypotheses and on Value Judgments in Economic Sciences, Routledge, London–New York, 2017.