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Title : An Italian Economist Says Berlusconi Together With Trump Are The Same … Except Trump Is Meaner
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An Italian Economist Says Berlusconi Together With Trump Are The Same … Except Trump Is Meaner

 Luigi Zingales

Here is the transcript of a fascinating interview of, Italian-born, University of Chicago Booth School of Business professor Luigi Zingales, yesteryear Business Insider's Sara Silverstein:

Sara Silverstein: And tin nosotros beak a picayune flake nearly Trump? I know that inward your outset draft of 1 of your books — I don't know how long agone is that?

Luigi Zingales: It was 2011.

Silverstein: Okay 2011, you lot had a chapter nearly how somebody similar Donald Trump could larn president as well as you lot utilization Berlusconi equally an instance precisely you lot cutting it from the book. Why did you lot cutting it as well as what did you lot say?

Zingales: So I cutting it because 1 of my colleagues who was sort of plenty to read the outset version told me that I was crazy, that I would lose credibility to the mass if I were to popular off on that in. And I intend that for me, it was a rattling tardily decision because the mass that came out inward 2012 was nearly how the U.S.A. is looking to a greater extent than as well as to a greater extent than similar Italy — as well as non unfortunately inward the proficient vino as well as nutrient — precisely inward the shape of the means the economic scheme is run, the shape of corruption where it’s

institutional, as well as and thus on. And so, the natural resultant of the Italian economic scheme was to receive got a prime number government minister similar Silvio Berlusconi. So the thought of the U.S.A. having a sort of Trump president was non equally unusual to me equally it was to most of my colleagues.

Silverstein: And similar a shot that nosotros receive got him, how similar or dissimilar practise you lot intend the 2 are?

Zingales: Actually I intend that inward their crusade as well as inward their personality, they’re very, rattling similar. Almost scary how similar they are. And 1 of the fundamental elements that makes them as well as thus similar — truly allow me tell two, at that topographic point are many precisely — 1 is they are phenomenal salesmen as well as the minute is they both come upwardly from a concern that is yesteryear nature non rattling competitive as well as rattling corrupt. They’re both existent estate. And when people say, “I know how the marketplace works, existent estate.” I intend that that’s non my sort of epitome of market: existent estate. So, I intend that that gives the background.

However at that topographic point are 2 large differences inward my view. One is that Berlusconi — I receive got to say — is a nicer person. I intend he’s to a greater extent than similar the prototypical comedian than truly the tough guy that Trump wants to pretend he is. And I intend that, for example, Berlusconi was never truly inward favor of whatsoever wars, was non a state of war monger at all, was dragged inward toward about wars yesteryear the United States, precisely it wasn’t similar his main thing. Trump unfortunately seems to endure dissimilar there. So inward that sense, this is a large of import difference.

The second, which mightiness seem a limitation to Berlusconi, precisely inward fact inward long term mightiness endure a practise goodness is, Berlusconi ran the outset fourth dimension for travel because he feared as well as perchance rightly so, that he would’ve lost his economical empire, if the Left had taken over at that time. And the argue is that he was nether investigation, he was high leveled — as well as thus the combination of the 2 things would truly receive got lay at risk, serious risk, most of his wealth.

You tin say a lot of negative things nearly Trump precisely I don’t intend that’s the argue why he ran. In fact, I intend he is to a greater extent than at adventure of going to jail later on running than before. So that’s non the argue as well as his empire was non at risk.

Now, on the 1 hand, that’s a large limitation for Berlusconi because you lot say, at that topographic point is a hidden agenda hither as well as that limits the powerfulness of beingness an effective prime number government minister as well as run the province inward the interests of all the people at large, non the needs of 1 person.

However, it turns out also to boundary the downside. In the feel that, in 1 lawsuit Berlusconi took power, too taking attention of his business, did non practise much. And this a large limitation because Italy drifted as well as became worse, precisely at to the lowest degree did non practise similar a major disaster.

I’m non as well as thus certain nosotros tin sort of say the same for Trump. I intend that — I’m non certain what drives Trump too the fact that he wanted to endure elected, what is truly driving his economical policy. When he was elected, people asked me what I predicted as well as I thought 1 of the outset things he would practise is railroad train a wall as well as he has non truly built a wall. And he doesn’t seem to follow rattling much on his electoral promises. I don’t know what he’s looking for, what is similar truly his in conclusion objective.

The video of the interview is here,

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