The pandemic has not halted global trade and, with recovery now in sight, the data offer an encouraging picture. Nevertheless, the scenario has changed dramatically. The globalization of the 1990s and the early 2000s have given way to a global fragmentation that has led various countries to reinforce bonds with historic allies and trusted partners.
Training is going to be key to the post-pandemic economic recovery. Indeed, with the crisis having accentuated social divisions, the accelerating digitization process has even more starkly foregrounded the skills divide.
The national and regional rules applied during the pandemic and the subsequent economic and financial downturn are fragmenting the global economy, reducing transparency and fueling injustice. In an effort to buck this trend, it would seem opportune to discuss the need for establishing a series of global legal standards.
The pandemic has highlighted the fragility and disparities of a National Health Service already hard put to confront the combination of an ageing population and the growing incidence of chronic pathologies. As a result, the political agenda is now focused on striking a new balance between macro assistance levels (moreover, previously indicated in “fiscal federalism” reforms) and the proportioning of related standard costs.
In what is a changing transatlantic and international context, the European Union has opened a new phase in the debate on the digital economy. It could be said that institutional constraints no longer exist on regulatory activity in this sector; the problem now is, if anything, to direct political will and garner broad consensus on updated rules. The principle of digital taxation has been outlined in general terms, even at the level of the transatlantic dialogue, but the precise legislative details still need to be worked out.
Technology transfer is critical to generating solid economic recovery. Nevertheless, in Italy, the knowledge transformation underway in applied technologies research finds itself having to contend with a shifting scenario: although the country boasts a good number of national champions, the aggregate data show delays in a range of areas, which impacts heavily on its capacity to create critical mass and competitiveness.
Two underlying problems were identified and discussed during a conversation with Minister of Justice Marta Cartabia: citizens’ limited trust in judges (cited as a “moral issue”), and the excessive length of trials. The latter, especially in the prosecution of tax evasion, has a significant detrimental impact on the economy.
As it leaves the health emergency behind, Italy is focusing on economic recovery. The European resources of the National Recovery and Resilience Plan offer major opportunities in a shifting scenario. On the one hand, the crisis was not the result of structural problems, but rather due to a situation created by the pandemic; this means that, despite the difficulties of this forced arrest, reviving the economic machine should not be too problematic. On the other hand, however, these long months of inactivity have compromised the financial situation of many firms.
In the “phygital” world, enterprise is the perpetual fulcrum of a system that hinges on a community of persons. This is true of business, marketing and communications. New priorities are emerging in the race to keep customers – by capturing their attention, boosting credibility and instilling trust – with the primary focus on corporate identity and accountability.
Creating excellence is one of Aspen Institute’s cardinal objectives, and one of the strategic factors in generating the country’s recovery. To this day, Italy remains an advanced European economy despite its relatively low percentage of university graduates. That percentage could be augmented through a different interpretation of education that embraced those hubs of excellence that flourish thanks to their ability to interface with the business world.
Apart from the pandemic’s quantifiable and, to some extent, already recognized impact, how it has influenced the economic policies of governments across the globe is another assessment to be made. It is along this dual track that the trajectory of recovery and medium-term development can be examined. The European context has shifted in response to post-pandemic needs that are, nevertheless, even more broadly changing the relationship between the roles of government and how global markets function.
The Smart City is an urban model that for some time now has been studied and applied in various parts of the world. The ecological and digital transitions that will be guiding the post-pandemic recovery, however, make investing in this model even more important. The emergency associated with the spread of the virus has highlighted how the possession and best use of data – i.e. the intelligence of a given urban area – are key to ensuring not only cities’ recovery but also their resilience in the face of possible future adversity.
The Covid-19 pandemic has ramped up the pressure on healthcare systems around the world, burdening already limited resources and existing capabilities. In order to ensure the quality and efficiency of services for all, healthcare systems need to build and improve their ability to be prepared for crises, while at the same time enhancing their essential primary functions. The discussion touched on the crucial aspects to be considered in making systems more efficient by reinforcing prevention.
The health emergency of recent months has changed the needs of citizens, particularly as regards their way of living in cities and private homes. These changes have to do with multiple aspects of the urban environment. They can be traced to the influence of transversal themes that include the “green revolution”, digital development, new forms of socializing stemming from virus containment measures and changes in infrastructure.
Digital medicine is having a major impact on both economies and health. The introduction of healthcare technologies – not least in consideration of the changing epidemiological framework, the ageing of the population and the growing incidence of chronic pathologies and related changes in treatment needs – could lead to significant savings for national healthcare systems. At the same time it could open up important opportunities in terms of new services and the associated creation of economic value.
The bulk of the Recovery Plan’s massive investments are in the form of the Eurobonds with which the European Union plans to stimulate the continent’s post-pandemic economy. Nevertheless, their introduction – a proposal dating back to the late 1980s aimed at encouraging investments and infrastructure – could represent a veritable paradigm shift in EU policy. Fostering that, in the first place, would be the continent’s strategic autonomy in a range of sectors currently in need of a common vision with regard to protection and enhancement.
The relationship between human capital and development has been a topic of study since economic policy has existed. Nevertheless, training and skills enhancement have long been underestimated by theories that have foregrounded other productive factors as decisive to economic growth.
Mobility is one of the key concerns in the post-Covid recovery. The pandemic that has forced millions to stay at home for extended periods of time has surely changed habits, and the consequences of this are likely to last well into the future. This is true both from the standpoint of work arrangements – with companies already predicting significant future reductions in hours spent in the office – and with regards to leisure activity and consumption. Flexibility in the use of public spaces and an increased dependence on home deliveries are becoming part of the new normal.
