The global economic scene is suffering from a worldwide slowdown in growth, the effects of the recent American financial crisis, monetary imbalances between the US dollar and the euro and rising inflation due to an increase in the price of raw materials (and not just energy resources).
Globalization, the erosion of the classic hallmarks of national sovereignty, the technological revolution and the financialization of the economy: all these scenarios have been at the center of public debate for some years now, both in Italy and abroad. But how can we stem the tide generated by global phenomena of a largely unforeseen magnitude? How do we face up to the risks and exploit the opportunities that arise from a precipitate transformation?
The international workshop focused particularly on the debate currently underway inside Russia, which sees various schools of thought playing a key role despite the regime’s tight control over political dissent and the media. There was a broad consensus among the participants regarding the main achievement of Putin’s presidency, namely, that of having consolidated the position of the central State and of having exploited energy revenues to increase the economic – and, in part, political – influence of the country on the international stage.
This seminar focused on the fact that Italy has three important and strategic crisis areas to deal with simultaneously, namely, immigrants, women and youth. Indeed, it has failed to find the best ways of putting these three significant pools of talent to good use. It was noted that women, for instance, achieve the best results throughout schooling, yet once they enter the workplace they experience various drawbacks such as lower salaries, higher unemployment, less career advancement and a very low level of representation in senior positions.
The wiki model, the gift economy and coopetition: these three seemingly obscure concepts harbor features of the most advanced contemporary social relations models. Representing relational systems that were developed on the internet, today they have spilt over into the real world – into the economy and the businesses that are key players in them.
The seminar, part of a series dealing with major issues and devoted to the National Interest, examined several crucial points for the promotion of economic growth and the raising of productivity levels at a historical moment marked by the risk of recession and by profound transformations in international economic equilibria. It was observed that to unshackle Italy’s growth, governments and the political sphere must be capable of mobilizing coalitions that are favorably disposed to reforms, highlighting the widespread benefits that they can generate.
The May 2008 Aspen seminar represented a timely occasion to discuss about the current turmoil in financial markets and to assess whether long term changes in structure and dynamics of international financial markets are taking place.The participants analysed the origin and developments of the current turmoil in financial markets and emphasised the central role played by central banks around the globe to restore confidence in the financial markets.
Innovation is a “complex science” that is distinct from invention. It is characterized by the key role played by human capital and, particularly, of the entrepreneur-leader intent on generating economic and/or social value. During the debate, it was noted that Italy has fallen behind the most developed countries, especially in the following areas (held back by the constraints described below):
Discussion at this roundtable touched upon a series of strategic hot spots for China’s future and for its role in a global world. Many of the issues considered are the focus of the upcoming issue of Aspenia (n. 41, in Italian, due out June 10).
The meeting of the Friends of Aspen, held in conjunction with a debate on a specific topic, offered an opportunity to introduce the new members of the group, elicit suggestions for topics for future events and announce the group’s upcoming annual conference (the 13th in the series) to take place in Rome on October 21. This 10th meeting of the Friends of Aspen was held in Milan at the Teatro alla Scala, in the evocative setting of the Ridotto dei Palchi (or Box Foyer), thanks to the generous support of the Fondazione del Teatro alla Scala.
The debate highlighted the economic and social importance of sports as well as the complexity of challenges facing public policy-makers in the field. In Italy, sport continues to represent a phenomenon with profound social roots. Fields, gyms and arenas cover the national territory better than any other social structure and play a key role in community aggregation. The organizational model of Italian sport is one of the country’s success stories. Italy’s national teams compete at the top level in all major international meets, starting with the Olympics.
“Food” involves a vast and complicated network of professions, actions, movements and skills (from agriculture, to trade and distribution, to cooking and eating). All these areas can be considered elements of a single great macro-process, which is much more complicated than most consumers realize. Debate at this roundtable focused on the role gastronomy plays in spreading knowledge and understanding to all those many players that take part in the process.
The Aspen Seminar, held in English and in collaboration with The Aspen Institute, followed the same format as the previous session in Como. Participants included Aspen Junior Fellows, Ordinary and Sustaining Members of Aspen Italia, Friends of Aspen and young leaders from several different countries. The varied provenance, age and professions of participants made for a particularly lively discussion. Participants, inspired by the reading of twenty-one different extracts from classic and contemporary texts, focused on universal values and their relationship with modern decision-making.
Italy’s south or “Mezzogiorno” is a region that fails to meet todays challenges. It deserves better, but the lack of infrastructure and of qualified labor, as well as excessive bureaucracy, high levels of organized crime, widespread disrespect for the law, weak institutions and a lack of social capital. These obstacles make it difficult for the region to take advantage of its many opportunities for development.
For the second consecutive year, Aspen Italia organized The Aspen Seminar – in English and in collaboration with The Aspen Institute. A key program in the United States, The Aspen Seminar has proved successful on Italian soil as well. Discussion was led by two expert American moderators: Howard Zeiderman, Director Executive of The Aspen Institute Seminar Program and Professor of Philosophy, and Leigh Hafrey, Professor of Ethics at MIT’s Sloan School of Management. The initiative was aimed at young leaders, with various backgrounds.
Evaluating the turnover between Vladimir Putin and Dmitri Medvedev at the presidency requires a recognition of the central role that Putin continues to occupy on the Russian political scene. It seems indeed clear that the structure of power in Moscow has remained fundamentally unchanged, although it is possible that Medvedev will walk the path of cautious liberal reforms.The next few years will see, in any case, further efforts to fully exploit the instrument of energy resources and currency reserves at the country’s disposal.
The main cause behind Italy’s blocked growth is the Italians’ approach to asset management: they tend to hold tight to their patrimony and not help wealth circulate. How to overcome this obstacle? A bipartisan approach would help, but it might not be enough. Today, after all, both protectionist and liberal tendencies coexist – concentrating solely on opening up markets seems to be a thing of the past, yet pure protectionism would only make changing the system more difficult.
Debate at this roundtable touched on the complex relationship that persists between the media and the business community. Participants noted that information should not be considered a necessary evil, but rather a meter by which to judge a democracy – a country’s freedom is evident in its journalism. A lack of information, of course, is detrimental to the workings of a democracy. Silence or tardiness in getting out the news represents a clear case of market abuse. As happened in the US, with the subprime catastrophe, financial markets also depend on the news.
