The Crushing of the Middle Class
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Edoardo Nesi still laments the decision he made 14 years ago to sell the Italian textile company his grandfather and great-uncle started in the 1920s. More to the point, he rues what he says was the reason: The Italian government had opened the door to cheaper Chinese goods, imperiling small and midsized family-owned companies across the country.
Now a member of the Italian Parliament's Chamber of Deputies, Nesi maintains globalization has had a profound impact on economies and societies throughout Europe and America. In a discussion of his new book Everything Is Broken Up and Dances: The Crushing of the Middle Class, co-authored with Italian investment manager Guido Maria Brera, Nesi looks at his and Brera’s experiences in the modern global economy. A system that once cultivated wellbeing in society is now, in his view, eroding the wealth of the middle class.