The lineage of this new work goes further back and comes from another direction, however, beginning with the efforts of the midcentury Italian economist Luigi Einaudi. Einaudi was the founder of a school of public finance economics at the Bocconi University of Milan that produced an economics that was a hybrid of German ordoliberal ideas and what would later be called public choice economics. Einaudi was a contributor to The Economist magazine during the 1920s, a prominent academic economist in his own right, the first postwar governor of the Bank of Italy, and president of the Italian Republic from 1948 to 1955.

Mark Blyth, Austerity, loc. 447