Kick-starting discussions at this Meeting of the Friends of Aspen group was the observation that the establishment of the Social Impact Investment Taskforce (SIIT) by the G8 has sparked debate in a number of countries on social finance and the important role it can play.
This event was part of the broader Aspen for the G-8 project, dedicated to Italy’s presidency of the G-8. The project aims to contribute to the formulation of guidelines for G-8 action characterized by coordinated efforts between the public and private sectors.
The crisis currently in progress is exceptional for many reasons, including the fact that it seems to be the culmination of a series of rapid-growth phenomena. The globalization of the 1990s, while producing many positive effects, was too fast and was not accompanied by a sufficient adaptation of the major multilateral institutions, the rules (especially in the financial sector) and the world monetary system itself.
The Conference discussion focused on the overall international scenario that may emerge after the worst of the economic crisis has passed. A fundamental question arises concerning the nature of the restructure currently in progress. Does it represent a new paradigm for global capitalism or, less ambitiously, is it just a partial reorganization based on more cautious attitudes and expectations?
On the eve of the G8 summit in L’Aquila, this workshop examined the various aspects of sustainable development in light of the commitments made by the major economic powers in recent years and current priorities.
The participants took note of the serious overall lack of effective governance, which has been particularly highlighted over the past two decades by the profound transformations that have taken place in the international order – starting with economic growth and demographic trends.
