Economy
Livigno once made a living from agriculture and a little commerce. Smuggling was both widespread and not socially deprecated, being often the only way to survive in such a harsh environment. This generated some prejudice in the remaining population of Valtellina, where smuggling was also widespread, with the local proverb gent de cunfin, tücc' lader o asesin, or "border people, all thieves or murderers".
Nowadays Livigno is a rich area, and the main activities are linked to tourism, especially as a ski resort. Many inhabitants of Valtellina visit once in a while to buy goods at substantially lower prices, especially tax-free gasoline, sometimes from as far as Sondrio. The tax free allowance for tourists applied here is the same as the one applied to travellers coming from any non EU country.
The 2005 Union Cycliste Internationale mountain biking world championships were held here, from August 28 to September 4.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)