This national roundtable examining the ramifications of implementing Italy’s digital agenda got underway with the participants citing a few statistics on point. Firstly, it was noted that the internet economy contributes 2% to Italy’s GDP – the same as agriculture, but with a potential of at least double that, thus bringing levels seen in England or Sweden within reach for the country.
Kick-starting discussions at this national roundtable event was the observation that few subjects have lent themselves as well in Italian public debate to the vivid use of metaphors as has the scale of the country’s public debt, often described as a mountain to be climbed, a dead weight, or as tantamount to a mortgage on Italy’s future. The actual figure is indeed staggering, amounting to nearly 2 trillion euros, and exceeding 123% of GDP.
The current financial crisis has thrown into sharp relief the close links that exist between monetary policy, the banking sector, sovereign debt, and serious imbalances within the Eurozone. The vehemence and longevity of the crisis have called into question the very political structure of the European Union as well as its institutional architecture, both in need of modification through a more rigorous application of existing rules, but also by means of the assignment of new responsibilities and the creation of new mechanisms.
Kicking off discussions at this national conference was the observation that the current financial crisis, evidently systemic in nature, is predominantly being shaped at this stage by perceived risk factors linked to vulnerabilities in the real economy and the banking system. Efforts in the political, economic and monetary arenas – both at national and European levels – seem to have eased speculative pressures on the markets and tentatively restored international investor confidence.
The third edition of “The Enlightenment and the Transatlantic Link: Common Roots and Today’s Challenges” took place within the setting of Spoleto’s Palazzo Ancaiani. The event was organized in conjunction with The Aspen Institute and was aimed at discussing the continued relevance today of Enlightenment values, through an interpretation of over thirty selected texts by American and European authors, including several from Italy. This modern-day rereading of these fonts of Enlightenment thinking was divided into five sessions structured around the following universal themes:
On July 19, the awards ceremony for the “Italian unification” competition organized by Aspen Institute Italia and the Istituto della Enciclopedia Italiana was held at Palazzo Lancellotti, Aspen Italia’s headquarters in Rome.
At this national roundtable dedicated to the quest for a sustainable development model, it was noted by way of preface that overcoming the crisis and returning to past growth is the outlook – or imperative, hope or delusion, depending on your point of view – which has dominated public debate, analyses, scenarios and action plans in Western countries in recent years.
The starting point for discussions at this national roundtable session was the observation that, in this time of crisis, revamping Italy’s image is not just a strategic priority, but also a pressing necessity. The problem was seen as originating, paradoxically, from within the country itself, with Italians engaging in some sort of exercise in self-flagellation by talking down their homeland whenever abroad.
The “European paradox” lies first and foremost in the great potential of the eurozone and the EU as an integrated economic bloc, which remains undeniable despite the serious difficulties of the past few months, and the concerns with the future solidity of the single currency: we are practically witnessing the crisis (hopefully a temporary crisis) of a giant on the global scene.
The Friends of Aspen gathered for the first time since 2007 at the Teatro Studio Expo, as guests of the Piccolo Teatro di Milano (aka the Teatro d’Europa), for the fourteenth spring meeting of the group. After the group’s latest members were introduced and a brief rundown was given of the group’s activities, members were asked to suggest topics to be addressed at the next annual conference in November.
Proceedings at this national roundtable got underway with the observation that, in recent years, the concept of ethics seems to have taken center-stage in economic debate. Expressions such as ethical finance, ethical trade and business ethics are being used more and more frequently, and all major international companies have a code of ethics.
The Mediterranean region is very diverse and simultaneously presents elements of close interdependence: the economic crisis of the past few years has shown that each country reacts to the challenges and opportunities on the basis of specific institutional and social features, even in the presence of important contagion effects. The political transitions in some Arab countries, starting with Tunisia and Egypt, confirm these twin tendencies whereby endogenous and local factors interact with regional and international ones.
Opening up discussions at this national roundtable on the power of the web was the observation that the internet has changed the face of politics, especially in terms of the processes of building consensus and managing leadership. There were already clear signs of this in Barack Obama’s winning election campaign of 2008, with two million supporters marshaled via the net, 8 and a half million unique visitors to the main campaign website, 13 million newsletter subscribers and 30 million dollars raised in online donations.
This encounter with Professor Guido Tabellini, Rector and Full Professor of Economics at the Luigi Bocconi University, gave the Aspen Junior Fellows an in-depth look at today’s issues. Twenty years after Maastricht, Europe’s economic and financial scenario has changed radically. The outlines of European unity were born of an optimistic forecast of the ability to govern a monetary – albeit not yet political or fiscal – union in the context of growing financial integration.
Proceedings at this National Roundtable examining the link between fiscal equity and growth in Italy got underway with the observation that, according to the Italian Constitution, taxation, as well as enabling the delivery of services and benefits essential to the welfare and progress of citizens, should also help overcome social inequalities through the application of redistributive justice criteria. This principle of “fairness” in setting tax levels takes on an even greater significance when, as is currently happening, social and economic disparities widen.
The participants at this National Conference noted that for decades the relationship between labor and capital in Italy seems to have swung periodically between the antitheses of cooperation and conflict – of subscribing to a shared mission and engaging in confrontation as a matter of principle. Ranged on one side has been a notion which views a business as a community of men and women intent on achieving shared objectives, and on the other has been a more class-conscious approach, grounded in the competing interests of all the various actors in the labor market.
It was observed at this meeting of Former Aspen Junior Fellows that Italy’s current prime objective is economic development. To aid recovery, the country must make the most of every resource at its disposal. In addition to firms, institutions and social partners, this joint undertaking was also requiring the involvement of professionals, who contribute 15% of GDP and represent nearly two and a half million highly-skilled individuals, of whom one-third are between 30 and 40 years of age and a significant proportion are female.
At this talk-debate event held in Rome, it was noted that although twenty years have passed since the publication of the book “Nazioni senza ricchezza, ricchezze senza Nazione” written by Giulio Tremonti, Sabino Cassese, Tiziano Treu and Francesco Galgano, the work remains extraordinarily relevant today, as by the time of its release a rift had already emerged between nations and reality, with the latter – and the problems and opportunities it presented – eluding the material constraints under which the former were forced to operate.
