The seminar dealt with the main challenges that the Italian economic system is facing in this difficult chapter marked by the international financial crisis, of systemic origin, whose extent and length have yet to be determined.
The debate devoted to globalisation, as it evolved, naturally shifted its focus on financial crisis even though the analysis of the short-term aspects were quickly overcome by the medium- and long-term ones. The central question referred to the nature of the crisis: is it to be considered a cyclical or a structural change? Agreeing on the second scenario would mean that we are witnessing the breakdown of an established model and the end of capitalism and globalisation as we know it.
The 13th annual conference of the Friends of Aspen opened with a tribute to the recently deceased President of the Friends of Aspen, Mr Ennio Presutti. For the first time, the conference was held in Rome. Within the context of small and medium enterprise, the debate centered on the issue of how to foster and maintain competitiveness in a heightened geopolitical and geoeconomic context, whilst taking into account Italian national and European-level regulatory aspects.
By the year 2030, worldwide energy consumption, spurred by economic development in such highly populated countries as China and India, might well be 50% greater than today’s levels. Fossil fuels will continue to play a key role and hydrocarbons will be called upon to satisfy more than half the world’s demand for energy. The concentration of oil and natural gas reserves in areas of the planet that suffer from political instability complicates the scenario. Many important questions remain on the sustainability front as far as energy supply is concerned.
The current financial crisis has lasted longer and been more damaging than expected, revealing the extent of market failure. The rule-free market era is over. No longer does anyone believe the “solid” economy – especially real estate – will turn into a “liquid” economy, thanks to deregulation. Widespread digital technology – a fundamental resource in globalization – does not help sell “toxic” shares: uncertainty about their worth only worsens the crisis.
The upshot of this debate was that the church has every right to participate in a public debate, but the state must remain secular. Laws cannot respect only certain citizens’ beliefs, but must hold true for everyone. Therefore, a new balance must be struck between religion and politics, especially on those issues that touch people in the XXI century so closely.
Demographic waves, technological innovation and citizens’ expectations: these are today’s major challenges. And, in the years to come, healthcare will become an increasingly important issue in all major countries with advanced economies and welfare systems. In the Italian system, the healthcare challenge is particularly crucial as it represents the largest public expenditure after pensions. Healthcare and pensions absorb all those resources that could be made available for other social policies.
Affirming values in an abstract way is a facile exercise; practicing and respecting values demands commitment and clear terms of reference. Such guidelines can only exist within a context of confrontation between secular values and religious ethics, the meeting point of the two representing a universal value system.
The concept of “human security” revolves around bettering overall conditions – not just security but economic conditions – for people in a crisis or post-conflict area. It demands, therefore, the setting of different priorities as regards more traditional concepts of national security, state building and nation building.
Bilateral relations between Italy and Israel have intensified recently, producing some promising results, though, for the big strategic questions and economic issues, broader EU involvement is key. Partially due to 9/11, interest in the underlying motives behind problems in the Middle East and Mediterranean region has grown, and increased attention has revealed the importance of social factors and domestic policy. Such an approach highlights the singular characteristics of Israel, a country which stands out as a sort of outpost for the West in the region.
Without denying the status of banks as fully-fledged businesses yet reaffirming their intrinsic difference to any other type of entrepreneurial undertaking, participants at this roundtable discussion called for banks to go back to conducting “traditional” banking activities.
It is by now an increasingly widespread view that the implementation of the new framework of financial relations between the State and local administrations foreshadowed by the constitutional reform of 2001 represents an unavoidable priority in the political agenda of the coming months.In the current economic and financial climate, the task of finally giving substance to fiscal federalism in Italy is an opportunity not to be missed if we are to embark on a new and more modern approach to public administration and policies by bringing citizens into closer contact with the authorities respons
Human rights were defined as fundamental inalienable rights of all individuals. The tradition of human rights trace back to the ancient world and was codified by Roman Law, to be then claimed as the basis for political independence by feudal entities and eventually enshrined in the Magna Charta of 1215. In its modern meaning and in relation to governments, the concept of human rights posits that governments have a duty to do no harm but also actively protect fundamental rights.There are various structural problems hindering the promotion of human rights worldwide.
Discussion here touched on the significant slowdown of America’s economy. Theories to explain this turn of events abound: from the real estate bubble to the sub-prime housing crisis, to more general imbalances. Participants focused on the financial sector, but the dynamics of prices – both for the producer and for the consumer – were also a subject of interest.
This conference was launched in memory of all that Giovanni Agnelli gave to strengthen relations between the United States and Italy. Discussion went on to focus on two specific demands: one the one hand, the importance of safeguarding the positive aspects of transatlantic relations’ long history and, on the other, the need to constantly adapt policy and discussions to novel challenges.These early years of the twenty-first century have already shown clear signs of change – in some cases radical change – in areas such as the very structure of the international system.
Form and beauty, joy and endurance in the face of suffering, a sense of what’s real, a dislike for certain forms of rhetoric, a dissociation from abstraction and the rejection of a “psychological tradition”: these are some of the distinctive traits that over the centuries have contributed to shaping the Italian identity. To be clear, we are talking of the identity that fascinated both well-known and unknown figures of the European fashionable set and led them – almost overwhelmed by some kind of categorical imperative – to undertake the celebrated “Journey through Italy”.
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?
