Marco Panara, economic columnist of the Republic, published a book on the relationship between the "value of work", the economic crisis and the difficult recovery in developed countries (the West's disease, Yale University Press, pp. 151, € 16). The text is written in plain language and accessible. The intent is informative: globalization has made the world's largest at the same time (because it has expanded to many emerging spaces of the market) and smaller (because the information technology and telecommunications and transport revolution was mainly due the introduction of the container have canceled or drastically reduced distances). To make the cost of this process were mainly the workers of the West, ritrovatisi to compete with millions of workers from emerging markets, now able to produce the same things in many areas with lower wages, poorer working conditions and welfare does not exist . Hence the migration of many products to Southeast Asia and Latin America, which has forced the workers of the "rich" countries to stop the race to be the "welfare" of the postwar years (the so-called "Thirty Glorious") and to accept more and more precarious working conditions, a systematic curtailment of welfare and, above all, a drastic reduction in the share of GDP attributed to the employee. To hide and compensate for the latter factor has developed in the West, since the "revolution" tatcheriana, that economy of the debt which caused the "bubble" burst in 2008. The "raw material" of the bubble consists of the sales rate, the spread of credit cards, the "loans for honor, but especially from mortgages (whether subprime, that is hardly redeemable, or not) that for a decade have allowed millions of "consumers" to access not only to a new home, but also in new loans due to the apparent, and in fact fictitious increase in the value of their homes, yet to be paid. But on this "side" was then built a castle, made possible by the policies of deregulation, because of financial derivatives, which at the time of the explosion of the bubble has jeopardized the entire global economic system. So many governments have been forced to borrow ever had done to save the financial system, while the crisis is then transmitted to the 'real economy', first with the stalemate of production, then with the occupation, which was not end in sight, partly because governments, already heavily in debt, can no longer be used in counter-cyclical government spending.
So much for the reconstruction of the dynamics of the crisis has important innovations compared to many other publications on the subject. But the upstream and downstream of this analysis Panara raises the issue of "work value". What is meant by this expression is unclear. The book lacks an explicit distinction between what is true, at market prices, the performance of those who work and what value, low-priced market, what the worker produces. Sometimes it seems that the two values \u200b\u200bare inextricably linked, are sometimes rather seriemente apart, why inserted between them, and in many different forms, the pension, but that is primarily the gain of money with those who produce il danaro, cioè della finanza, che per Panara è la vera fonte di distorsione del mercato. C’è nel libro una fiducia mai argomentata in un mercato “efficiente”, che nella ricostruzione dei fatti non si incontra mai, né in Italia, dove niente funziona, né nel resto del mondo. Perché la finanziarizzazione del mercato è, sì, ciò che ha portato al disastro attuale, ma anche ciò che ha sostenuto la domanda senza la quale non ci sarebbe stato né lo sviluppo dei paesi emergenti, né la pace – o la stagnazione? - dei paesi debitori, su cui si è retta la globalizzazione. Vero è che quando passa alle terapie per restituire valore, non solo economico, ma anche e soprattutto social, work, Panara, along with recipes obvious as a major commitment to training and support for innovation, it identifies a third, crucial: "Keep in the loop part of the resources that come out every year." Panara gives the example of renewable energy sources, but the same applies to almost all areas that have a strategic value in view of a conversion of the entire production environment: agriculture, nutrition, mobility, land management, waste management. It is not a recipe for protectionism unrealistic, but that of a "reterritorialization" of production, closer with a radical overhaul of the rules of the market, of their consumption on the premises or their use.
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