At this roundtable session dealing with the future of Italy’s welfare system, the participants observed that tackling the issue of risk management requires the resolution of an evident paradox, namely, that while the risks to which households and firms are exposed are becoming greater in number and increasingly serious, the public resources needed to address them are in ever more limited supply.
Discussions at this national roundtable session got underway with the opening premise that the economic crisis and its social consequences have profoundly called into question the prevailing economic paradigm – a model based on competitive individualism, maximizing the profit of the individual, and an “invisible hand” regulating the market. The result is that the idea of the common interest merely being the sum of individual interests no longer seems sustainable in the current economic and social climate.
Discussions at this roundtable got underway with the observation that five years of crisis – triggered by the collapse of the financial sector and constantly compounded by (public and private) financial difficulties – have forced a rethink of the role of industry, which is now called on once again to become an engine of growth. Indeed, the need for a different economic vision, one which combines the kind of tangible and intangible values needed to kick-start new sustainable growth – has seen the production system return to center stage.
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.
Discussion at this national roundtable focusing on immigration opened with the participants citing figures showing that foreigners account for 7.5% of Italy’s population (up from 1% in 1991) and contribute over 12% of national GDP. Many migrants have chosen to settle in Italy permanently, have bought a house (20%), and have children attending Italian schools.
The indestructible bond between art and the economy needs to be forcefully reiterated today, even at such a tough time for the global economy and for Italy’s economy in particular.
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.
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.
The participants in this National Roundtable observed, by way of opening premise, that biotechnology is a scientific field offering great prospects and within which Italy could play an important role. Indeed, the country boasts a high level of training and outstanding expertise in the sector. The projected rewards, including of a financial nature, are quite considerable, with attractive prospects from an industrial point of view.
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.
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.
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.
Discussion at this national roundtable got underway with the observation that tourism is another largely underutilized resource that features prominently in the (somewhat copious) catalog of Italy’s untapped potential. For decades, the sector has constantly been held up as representing the epitome of the country’s missed opportunities, along with culture and natural heritage, with which it is clearly interlinked.
At this roundtable session dedicated to the subject of Italian welfare reform, it was noted that European welfare models have come under pressure from major demographic, economic and social changes, including progressively aging populations, rising expectations for healthcare, increased risks of non-self-sufficiency, sporadic employment and income, and concerns over public debt, which have conspired to make healthcare and welfare systems devised in the past gradually more unsustainable.
This national roundtable got underway with the observation that the digital revolution which began in the late 1990s has radically changed the world of television. Today, audiovisual content can be found on the internet, smartphones and tablet computers: transmission capacity has been boosted, general-interest TV is losing audience shares and the level of user customization is on the rise. Industry models are also changing – and fast. In the near future, the models for making television, delivering it to audiences, and making it attractive to advertisers will be very different.
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.
Paving the way for discussions at this National Roundtable session was the acknowledgement that in a climate where globalization processes are playing an increasingly more central role in Italy’s social and economic development, Italian firms also need to gear themselves up to being more globally competitive. Achieving this objective, it was suggested, brings with it a renewed need for financing or refinancing of many of the country’s firms and banks.
Opening the discussion at this National Roundtable was the observation that Italy’s stock of personal savings continues to highlight its strong position as a country with among the highest per-capita net worth in the world. Nevertheless, it was acknowledged that in order to give a complete picture of the situation, two areas in which Italy diverges from, in particular, other major European countries, need to be considered.
This roundtable saw those in attendance debate the role that foreign-owned firms play in the Italian economy, particularly with a view to identifying approaches and measures that could enable foreign direct investment inflows to be improved.
The participants at this National Roundtable noted that, in recent years, the corporate governance of Italian firms has changed in a rapid and decisive – though in some ways haphazard – manner. This process, which started in the 1990s, particularly in the wake of the wave of privatizations, was intended to make the financial market more attractive to foreign and Italian investors by providing greater guarantees for the protection of minority shareholders.
