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Vincent Dela Sala

Among the scenarios raised by a more interdependent and open

global economy is one of competition unleashed not only between

states and firms, but also between national systems of corporate

finance and governance. Less than a decade since the specter of a

competition of capitalism against capitalism, the start of the new

decade has seen a widespread belief that the Anglo-Saxon model of

capitalism, with its emphasis on equity markets and shareholder

rights, is the basis for convergence amongst advanced industrialized

societies. More specifically, many argue that Italy has not

escaped this discussion, and the past year has been one rich in

developments that raise questions about the possible changing

nature of the Italian model of capitalism. It is not unfair to ask

whether Italy is moving towards a convergence with the Anglo-

American model of capitalism. The election of Antonio D’Amato as

the new president of Confindustria might provide some insight into

the extent of change in the Italian model of capitalism.