Luigi Einaudi

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Luigi Einaudi OMRI
Official portrait, 1948
2nd President of Italy
In office 12 May 1948 – 11 May 1955
Prime Minister	Alcide De Gasperi Giuseppe Pella Amintore Fanfani Mario Scelba
Preceded by	Enrico De Nicola
Succeeded by	Giovanni Gronchi
Deputy Prime Minister of Italy
In office 1 June 1947 – 11 May 1948
Prime Minister	Alcide De Gasperi
Preceded by	Office established
Succeeded by	Giovanni Porzio
Minister of the Budget
In office 6 June 1947 – 11 May 1948
Prime Minister	Alcide De Gasperi
Preceded by	Office established
Succeeded by	Giuseppe Pella
Governor of the Bank of Italy
In office 5 January 1945 – 11 May 1948
Preceded by	Vincenzo Azzolini
Succeeded by	Donato Menichella
Parliamentary offices Member of the Senate of the Republic Ex officio Life tenure 11 May 1955 – 30 October 1961 Member of the Constituent Assembly In office 25 June 1946 – 31 January 1948 Constituency Italy at-large Member of the Senate of the Kingdom In office 6 October 1919 – 24 June 1946 Appointed by Victor Emmanuel III
Personal details
Born	(1874-03-24)24 March 1874 Carrù, Piedmont, Kingdom of Italy
Died	30 October 1961(1961-10-30) (aged 87) Rome, Italy
Political party	Italian Liberal Party
Spouse	Ida Pellegrini
Children	Giulio Mario Roberto
Alma mater	University of Turin
Profession	Teacher economist
Signature

Luigi Numa Lorenzo Einaudi OMRI (Italian: [luˈiːdʒi eiˈnaudi]; 24 March 1874 – 30 October 1961)^[1][2] was an Italian politician and economist. He served as the president of Italy from 1948 to 1955 and is considered one of the founding fathers of the Italian Republic.

Einaudi was born to Lorenzo and Placida Fracchia in Carrù, in the province of Cuneo, Piedmont.^[3] In Turin he attended Liceo classico Cavour and completed his university studies; in the same years he became acquainted with socialist ideas and collaborated with the magazine Critica sociale, directed by the socialist leader Filippo Turati. In 1895, after overcoming financial difficulties, he graduated in jurisprudence, and was later appointed as a professor in the University of Turin, the Polytechnic University of Turin and the Bocconi University of Milan.

As an economist, Einaudi belonged to the classical school of economics in addition to Pietro Campilli, Epicarmo Corbino and Gustavo Del Vecchio.^[4]

From the early 20th century, Einaudi moved increasingly towards a more conservative stance. In 1919 he was named Senator of the Kingdom of Italy. He also worked as a journalist for important Italian newspapers such as La Stampa and Il Corriere della Sera, as well as being financial correspondent for The Economist.^[5] In 1925, he signed the Anti-Fascist Intellectuals Manifesto. As an anti-fascist, he stopped working for Italian newspapers from 1926, under the Fascist regime, resuming his professional relationship with the Corriere della Sera after the fall of the regime in 1943. After the Armistice (8 September 1943) he fled to Switzerland, returning to Italy in 1944. In Switzerland, Einaudi worked at the Geneva Graduate Institute.^[6]

Einaudi was Governor of the Bank of Italy from 5 January 1945 until 11 May 1948, and was also a founding member of the Consulta Nazionale which opened the way to the new Parliament of the Italian Republic after World War II. Later he was Minister of Finances, Treasury and Balance, as well as Vice-Premier, in 1947–48. He was also a member of the neo-liberal think tank the Mont Pelerin Society.^[7][8]

Einaudi was elected an International Honorary Member of the American Academy of Arts and Sciences in 1935 and an International Member of the American Philosophical Society in 1947.^[9][10]

On 11 May 1948, he was elected the second President of the Italian Republic. At the end of the seven-year term of office in 1955, he became a Life Senator. Einaudi was a member of numerous cultural, economic and university institutions.

A staunch liberal in the European, libertarian sense (he invented the Italian term "liberismo" to mean economic liberalism, arguing with Benedetto Croce), he was a supporter of the idea of European Federalism.^[11]

Einaudi personally managed the activities of his farm near Dogliani, which produced Nebbiolo wine, and he boasted to be using the most advanced agricultural developments. In 1950, the monarchist satirical magazine Candido published a cartoon in which Einaudi was at the Quirinal Palace, surrounded by a presidential guard of honour (the corazzieri) of giant bottles of Nebbiolo wine, each labelled with the institutional logo. The cartoon was judged a lèse-majesté by a court of the time, and Giovannino Guareschi, the director of the magazine, was held responsible and sentenced.

Einaudi married Countess Ida Pellegrini (1885-1968) on 19 December 1903. Pellegrini was born in Pescantina in 1885 into a family of the Veronese aristocracy, as she was the daughter of Count Giulio Pellegrini. She attended the Regia School of Commerce in Turin, where she met her future husband, who was her professor at the time. Their son Giulio became a prominent Italian publisher, and their grandson Ludovico is a neo-Classical musician. Their son Roberto, a mechanical engineer, continued to cultivate his father's beloved winery. ^[12]

Their son Mario was a Cornell University professor and active anti-fascist. The Mario Einaudi Center for International Studies is named after him.^[13] Additionally, Mario founded the Fondazione Luigi Einaudi in Turin in honour of his father.^[14]

The Einaudi Institute for Economics and Finance (EIEF), a research centre of the Bank of Italy, is named after Luigi Einaudi.

Einaudi died in Rome on 30 October 1961 at the age of 87.

• Einaudi Institute for Economics and Finance

• Principi di scienza delle finanze (1932)^[15]
• Il buon governo (1954)
• Prediche inutili (1956–1959)
• Tracotanze protezionistiche (1919)
• Via il Prefetto! (1944)
• On Abstract and Historical Hypotheses and on Value Judgments in Economic Sciences, Critical Edition with an Introduction and Afterword by Paolo Silvestri. 'Routledge Studies in the History of Economics, Vol 185', New York-London, 2017, ISBN 978-0-415-51790-4.

• Acocella, N. (ed.), "Luigi Einaudi: studioso, statista, governatore", Carocci, Roma, 2010, ISBN 978-88-430-5660-6.
• Forte, F.; Marchionatti, R. (2012). "Luigi Einaudi's economics of liberalism". The European Journal of the History of Economic Thought. 19 (4): 587–624. doi:10.1080/09672567.2010.540346. hdl:2318/90412.
• Giordano, A. (2004), Luigi Einaudi and the Dilemmas of Liberal Democracy, Notizie di Politeia, XX, 2004, n. 75, pp. 7–12 (http://www-4.unipv.it/paviagc/?page_id=236).
• Silvestri, Paolo The ideal of good government in Luigi Einaudi's Thought and Life: Between Law and Freedom, in Paolo Heritier, Paolo Silvestri (Eds.), Good government, Governance, Human complexity. Luigi Einaudi's legacy and contemporary societies, Leo Olschki, Firenze, 2012, pp. 55–95. ISBN 978-88-222-6161-8
• Silvestri, Paolo, "Preface", in L. Einaudi, On Abstract and Historical Hypotheses and on Value judgments in Economic Sciences, Routledge, London – New York, 2017, pp. XXIV-XXXII.
• Silvestri, Paolo, "The defence of economic science and the issue of value judgments", in L. Einaudi, On Abstract and Historical Hypotheses and on Value judgments in Economic Sciences, Routledge, London – New York, 2017, pp. 1–34.
• Silvestri Paolo, "Freedom and taxation between good and bad polity, and the economist-whole-man", in L. Einaudi, On Abstract and Historical Hypotheses and on Value judgments in Economic Sciences, Routledge, London – New York, 2017, pp. 94–136.

• "Luigi Einaudi at 80". The New York Times: 26. 24 March 1954.
• "Signor Luigi Einaudi: Statesman and Economist". The Times: 16. 31 October 1961.
• "Luigi Einaudi of Italy Dies at 87; President of Republic 1948 to'55; Won Affection of Populace Ex-Monarchist Was Noted as Economist". The New York Times: 31. 31 October 1961.
• Caffé, F. (2018). "Einaudi, Luigi (1874–1961)". The New Palgrave Dictionary of Economics. London: Palgrave Macmillan. pp. 3567–3568. doi:10.1057/978-1-349-95189-5_316. ISBN 978-1-349-95188-8.
• Faucci, Riccardo (1993). "EINAUDI, Luigi". Dizionario Biografico degli Italiani (in Italian). Vol. 42. Retrieved 24 May 2024.
• Faucci, Riccardo. "Luigi Einaudi - Il Contributo italiano alla storia del Pensiero: Economia (2012)" (in Italian). Enciclopedia Treccani. Retrieved 24 May 2024.
• Forte, Francesco (1962). "Luigi Einaudi (1874-1961)". Journal of the Royal Statistical Society. Series A (General). 125 (4): 668–669. JSTOR 2982659.
• Meacci, Ferdinando (1998). "Luigi Einaudi". In Meacci, Ferdinando (ed.). Italian Economists of the 20th Century. Cheltenham, UK, and Northampton, MA, USA: Edward Elgar. pp. 163- 178. ISBN 978-1-78254-120-2 – via Internet Archive.
• Papi, Giuseppe Ugo (1962). "Luigi Einaudi". Zeitschrift für Nationalökonomie / Journal of Economics. 22 (1/2): 1–3. doi:10.1007/BF01417768. JSTOR 41796393.

• Works by or about Luigi Einaudi at the Internet Archive
• "Fondazione Luigi Einaudi".
• "Luigi Einaudi, 1874-1961". The History of Economic Thought website (hetwebsite.net). Retrieved 25 May 2024.
• Biography at the Official Website of Presidency of Italian Republic (in Italian)
• Newspaper clippings about Luigi Einaudi in the 20th Century Press Archives of the ZBW