After the pandemic: the challenges of the world economy
The definition of America’s as a “boom” economy is amply justified by the 21 months of growth confirmed by the prestigious National Bureau of Economic Research. A historic fact comparable perhaps only to the 1960s of Presidents Kennedy and Johnson and the early Reagan years. Current fiscal stimulus amounting to nearly 6 trillion dollars is far more substantial than the New Deal or post-Second World War measures.
Digital markets and the real economy
Italian industry is compelled to face the prospect of a future digital market, along with the continuing paradigm shifts that technological transformation is imposing on the economic and social fabric. The radical transformation of manufacturing, consumption and habits is having a significant impact not only on daily activities but also on the capacity for near-future analysis and forecast.
The post-Covid economic paradigm: the future of work and business
Aspenia 94 (in Italian), entitled “I nuovi dopoguerra”, analyzes the many complexities of the international economic picture. It is possible that the post-Covid era will open up scenarios similar to those of the 1970s, or even something resembling the “roaring Twenties” and its tragic epilogue, the Great Depression of 1929.
Economic growth and consumption: how to relaunch demand
The Covid-19 pandemic has radically modified the consumer industry over the last 18 months. If, in a first phase, we saw the acceleration of trends that were already widespread, such as e-commerce, over time we witnessed the rise of new priorities, generally viewed as secondary in the pre-pandemic phase, including, but not limited to, the protection of the environment and the physical and mental well-being of the person.
Focus on Industry – Policies for recovery
The pandemic experience and consequent evolution of the global economic picture make even clearer than before the need for Italy and Europe to cultivate an attractive environment for industrial investments, primarily those strategic to national growth and security. This along with the promotion of adequate public and private level competences and a deep reform of the public administration aimed at higher quality and rapidity in decision-making.
Many factors have converged to bring radical change to the scenario:
Italy 2040: a new social contract to weather the crisis
The United States-China face-off is surely going to dominate in the near future. Washington now considers the bid to involve China in a liberal order, which Beijing itself has deemed illegitimate, a lost cause. Thus, in order to prevent the confrontation from becoming a conflict – or even war – it is going to be necessary to establish some collaborative terrain on global issues in a context otherwise dominated by sharp contrasts. It is not the Congress but rather the American economic world that interacts and is heavily interdependent with the Chinese economy.
Anatomy of a recovery and the role of exports
The Made in Italy brand and its propensity for exportation has always been an essential component of the Italian economy, playing a crucial role in the development and growth of the national entrepreneurial fabric. Exports continue to be a driver of the economy’s competitiveness thanks to progress that is predicted to surpass 11% in 2021, with prospects over the next three years of maintaining a pace beyond that of the pre-pandemic period.
Ethics and Artificial Intelligence
On September 24-25, 2021 Aspen Institute Italia, TIM and Intesa Sanpaolo organized the international conference “Ethics and Artificial Intelligence”, under the High Patronage of the President of the Republic and with the cooperation of Aspen Institute Germany, Institut Aspen France and the Academy of Sciences of Bologna Institute.
Why post-covid recovery needs women Empowerment, financing and rights
Post-covid recovery needs women. Women’s empowerment is pivotal to tapping our society’s potential and meeting the challenges of the coming years. The digital revolution and the ecological transition are processes poised to stimulate the raising of a new development model above the wreckage the pandemic will have left behind. The need to draft new paradigms is precisely what makes diversity and broader vision at all levels, starting with decision makers, fundamental.
Energy in the post-COVID transition between geopolitics and growth
The world economy has started down the right path to achieving the environmental goals set by the EU and those underwritten in Paris in 2015, but still lags behind in terms of deadlines. European efforts must, in any case, be viewed within the broader global context, since all the data point to Asia – headed up by China, but not exclusively – as the worst offender in terms of harmful emissions. This is especially due to the use of carbon in this phase of post-pandemic economic recovery. Asia remains the principal problem even considering the combined American and European contribution.
Global trade and protectionism: a new balance post-Covid
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.
Defining new standards for a rule-based international order
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.
A new digital framework: markets, rules and innovation
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.
Scientific and technological research: new ways to transfer technology
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.
Post pandemic Italy’s banking sector: new challenges, new opportunities for the real 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.
Creating Excellence
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.
Economic recovery: strengths and weaknesses in 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.
Training as a development strategy: human capital and growth
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.
The labor market after the pandemic
The covid-19 pandemic has been an extraordinary accelerator of trends already begun prior to the emergency. During the March 2020 lockdown, progress was made regarding the Italian labor market in just a few weeks. In terms of digitalization, the resilience of organizational models, and the spread of specific skills, this transition would otherwise have taken decades.
Investing in R&D: why should Italy do it?
Research is one of the assets that Italy needs to tap as it strives to jumpstart the economy. The pandemic and the science community’s rapid response to the virus have further emphasized the importance of a competitive ecosystem in this sector. Italy’s National Recovery and Resilience Plan offers an opportunity to invest both in basic research and in subsequent development and technology transfer stages. The country can claim a certain amount of progress over recent years, but intervention is still necessary in a range of areas.
The Biden Administration and the Future of America
President Biden’s inauguration comes at a moment of serious division in the United States. Urgent domestic issues and a shifting international context have created some major challenges for the American leadership. Although he may be eager to put the “Trump factor” behind him with a long series of executive orders right from the start, the new president must also lay out a broader strategy.