The article discusses the so-called Valentine's Day decree of 1984, enacted by the first Craxi government, which is remembered as a significant and courageous act in Italy's economic policy history. This decree addressed the 'scala mobile' mechanism, reducing its automatic adjustments, and was pivotal in combating inflation. The article argues that even decades later, this decree prompts us to consider its relevance in today's tumultuous economic climate characterized by compressed wages, fears of returning inflation, and global instability.

In the face of current economic challenges, including wage stagnation and concerns about inflation, the decree's fundamental message about the need for a strong and innovative development policy resonates powerfully. It highlights the importance of leadership in making difficult decisions for future growth, even if those decisions are unpopular. The author suggests that the real challenge is not merely breaking the inertia of the old system but finding the courage to propose and implement solutions that can benefit the nation in the long term.

The lasting impact of this decree serves as a reminder that courageous political choices can shape economic outcomes profoundly. As Italy navigates its current economic landscape, the lessons learned from the 1984 decree may offer valuable insights into how to foster a sustainable path for growth without falling prey to the easy but temporary fixes that may lack future vision.