The power of a calm mind – in economic terms, too
A book retraces the vicissitudes of Bonaldo Stringher and recalls his teachings as a means to deal with today’s complexities.
To build the future, its foundations must rest on history, as well as on the present. Valuable advice with respect to business, as well as to all other social spheres, and, further, advice that illustrates an important aspect of that well-rounded culture (related to production, but not only) that best entails the ideal knowledge required to deal with current complexities. Indeed, this is the advice found in Bonaldo Stringher. Serenità, calma e fermezza. Una storia economica d’Italia (Bonaldo Stringher. Serenity, calm and resolve. An economic tale of Italy)”, a book by Giuseppe De Lucia Lumeno published some time ago, yet still very topical (especially in a period as complex as this).
Stringher was the first Director General and the first Governor of the Bank of Italy, at the beginning of the 20th century. He was one of the undisputed protagonists in the economic, institutional and social life of Italy during the process of its unification and, above all, he was aware of the significance of European values and collaborative efforts, and indeed founded the regional cooperative banking system in Italy. A socially engaged economist and banker, a “modern man” devoted to building a social and production system that would really benefit the development of the country, Stringher is remembered for successfully dealing, with prowess and care, with several difficult economic and political transitions that affected the recently unified Italy, always driven by a single notion: “Economic science should not consider people as mere factors of production, but as the main actors in every economic function.”
De Lucia Lumeno clearly summaries each stage of his career, including details pertaining to economics and monetary economics, while also outlining the climate, difficulties, prospects and tensions of the time. Stringher lived through that era supported by his strong principles and working methods – he had faith in his ability to observe reality, had no dogmas, believed in the power of pragmatism, and knew the value of cooperation, intended as a constructive, mutually respectful dialogue bent on establishing the common good.
As mentioned, Stringher was a “modern man” and is described as such in the book – a modern man who, even today, provides us with some essential advice on how to comprehend reality so as to act for the best. The work is prefaced by a beautifully introduction by Ignazio Visco who, in his conclusions, succeeds in firmly weaving together Stringher’s life with current events: “(…) every era, though dependent on its historical heritage, has its own challenges. Our modern challenges are certainly no less critical than those experienced by the “great Governor” and, now just as then, they must be faced with determination and self-awareness, with patience and – to use the same words chosen by Stringher when he wrote his letter to the Bank’s subsidiaries during the most difficult period experienced by Italy during the war – with “exceeding serenity, calm and resolve”, as echoed in the title of this volume.”
Bonaldo Stringher. Serenità, calma e fermezza. Una storia economica d’Italia (Bonaldo Stringher. Serenity, calm and resolve)
Giuseppe De Lucia Lumeno
Guerini, 2023
A book retraces the vicissitudes of Bonaldo Stringher and recalls his teachings as a means to deal with today’s complexities.
To build the future, its foundations must rest on history, as well as on the present. Valuable advice with respect to business, as well as to all other social spheres, and, further, advice that illustrates an important aspect of that well-rounded culture (related to production, but not only) that best entails the ideal knowledge required to deal with current complexities. Indeed, this is the advice found in Bonaldo Stringher. Serenità, calma e fermezza. Una storia economica d’Italia (Bonaldo Stringher. Serenity, calm and resolve. An economic tale of Italy)”, a book by Giuseppe De Lucia Lumeno published some time ago, yet still very topical (especially in a period as complex as this).
Stringher was the first Director General and the first Governor of the Bank of Italy, at the beginning of the 20th century. He was one of the undisputed protagonists in the economic, institutional and social life of Italy during the process of its unification and, above all, he was aware of the significance of European values and collaborative efforts, and indeed founded the regional cooperative banking system in Italy. A socially engaged economist and banker, a “modern man” devoted to building a social and production system that would really benefit the development of the country, Stringher is remembered for successfully dealing, with prowess and care, with several difficult economic and political transitions that affected the recently unified Italy, always driven by a single notion: “Economic science should not consider people as mere factors of production, but as the main actors in every economic function.”
De Lucia Lumeno clearly summaries each stage of his career, including details pertaining to economics and monetary economics, while also outlining the climate, difficulties, prospects and tensions of the time. Stringher lived through that era supported by his strong principles and working methods – he had faith in his ability to observe reality, had no dogmas, believed in the power of pragmatism, and knew the value of cooperation, intended as a constructive, mutually respectful dialogue bent on establishing the common good.
As mentioned, Stringher was a “modern man” and is described as such in the book – a modern man who, even today, provides us with some essential advice on how to comprehend reality so as to act for the best. The work is prefaced by a beautifully introduction by Ignazio Visco who, in his conclusions, succeeds in firmly weaving together Stringher’s life with current events: “(…) every era, though dependent on its historical heritage, has its own challenges. Our modern challenges are certainly no less critical than those experienced by the “great Governor” and, now just as then, they must be faced with determination and self-awareness, with patience and – to use the same words chosen by Stringher when he wrote his letter to the Bank’s subsidiaries during the most difficult period experienced by Italy during the war – with “exceeding serenity, calm and resolve”, as echoed in the title of this volume.”
Bonaldo Stringher. Serenità, calma e fermezza. Una storia economica d’Italia (Bonaldo Stringher. Serenity, calm and resolve)
Giuseppe De Lucia Lumeno
Guerini, 2023