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Additional Context
In the 1990 classic in economic strategy, The Competitive Advantage of Nations, business theorist Michael Porter wrote, “Most commentators on the Italian economy have persistently underestimated Italy, because they have applied American, German, or Japanese norms to an economy with a very different structure.” According to Porter, “The Italian success in fragmented industries and in competing with highly focused strategies…draws on unique attributes of the Italian environment.”
For all that has changed in the decades since, Porter’s commentary across the book holds up astonishingly well, and his observations on Italian business strengths exemplify that. While Italy might lag behind similarly wealthy nations when it comes to industries requiring massive commitments of capital, the nation l