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The work analyses the Italian economy from 1951 to 1966. The first part of the paper is devoted to the theoretical hypotheses which find their place in a model of the Italian economy illustrated in the second part. The author is mainly concerned with clarifying certain theoretical points and, in particular, initiating a type of analysis which considers variations in certain important aggregates and in certain categories of prices and wages simultaneously, which helps to bridge macro- and micro-economics. JEL: E31, E24