Tonia Mastrobuoni and Lars Feld present “Narrative Economics: How stories go viral & drive major economic events” by Robert Shiller
Narrations create imaginary expectations that shape the way in which economic agents plan their future. So in these times, it is important to understand how stories go viral and are transformed into genuine driving forces of economic events. Tonia Mastrobuoni, correspondent for La Repubblica in Germany, discusses the issues with Lars Feld, Economic Advisor to Chancellor Angela Merkel.
La narrazioni creano aspettative immaginarie che modellano il modo in cui gli agenti economici pianificano il proprio futuro. Fondamentale dunque, di questi tempi, la comprensione delle storie che diventano virali che si trasformano in veri e proprio driver degli eventi economici. Tonia Mastrobuoni, corrispondente per "la Repubblica" in Germania, ne discute con Lars Feld, Capo dei Consiglieri della Cancelliera Angela Merkel.
Fidelity International, an international asset management company, recently issued a study entitled “How the world is doing”, in which it analyses possible scenarios for the world after the pandemic, and ways of emerging from the crisis. This is the starting point for a dialogue between the Coordinator of the Festival’s editorial team and Cosmo Schinaia, Country Head Italy for Fidelity International. How radical are the changes that have taken place in our society and how many of them will remain over time? What should we expect in terms of international relations between Europe, the USA and China? Will the environment, sustainability and a commitment to improve the quality of life on planet Earth become the keywords for businesses in the future?
What will the world be like in ten years? According to the 2030 Agenda goals, it should be more sustainable, fairer and healthier. So how do these goals work? Are we doing enough to achieve them? We talk to Louisa Parks. Professor at the University of Trento.
Sarah Varetto, Director of Sky Tg24 at the time, interviews Vittorio Colao, Chief Executive Officer of the Vodafone Group at that time. A discussion about administration and bureaucracy: how can the State facilitate the birth of new businesses? A comparison with Britain and other European countries regarding policy, reforms, technology and employment.
A “routine” film on the ecological disaster of the Amazon rainforest and a fierce exposé tracing the life of Chico Mendes. Coming out almost simultaneously, the former is a typical Hollywood product (good screenwriting, the right level of spectacle and successful stars), obtaining a fair degree of success and still in circulation. The latter (filmed for TV) met with acclaim (3 Emmy Awards, the equivalent of the Oscars for American TV) but has been consigned to oblivion by the official distributors. Both the former, and above all the latter, are useful, at least for those using the methods of the Samizdat against Soviet censorship. However, it is worth it. Both are important, because Bolsonaro’s Brazil wishes to accelerate the destruction of this immense regulator of the global ecological balance.
The coronavirus pandemic has underlined trends already underway, but that have been exacerbated in the last few months: the increase in poverty and inequality, the importance of the welfare state and the urgency of the climate crisis. How will the ruling class respond to these problems? The crisis of the four “fundamental political forces” in the last few years - neoliberals, nationalists, social democrats and environmentalists – is already evident. Political analyst Colin Crouch talks to Eugenio Occorsio, journalist with the Repubblica newspaper.
The WHO, International Monetary Fund, ECB and European Union: what has international coordination been like between the different global organisations? The future of the leading international power is increasingly uncertain, how will the USA come out of the pandemic? Given the worsening situation in Hong Kong, is there an effective threat to global peace? The coordinator of the Festival’s Editorial Committee talks to Arrigo Sadun, Chairman of TLSG, former Executive Director of the International Monetary Fund, and an international strategy consultant currently residing in Washington.
The fight against tax havens has taken on an increasingly important role in the European and international panorama. So what exactly are they? And why is it necessary to combat them? We talk to Alessandro Santoro, editor of lavoce.info.
A summary of the 2015 Festival on “Social Mobility”, at which the winner of the 2008 Nobel Prize for Economics conversed with Daniel Gros and Tito Boeri.
Should we fear the advent of new technology? Can it combat persistent stagnation? Can it offer new opportunities to the most economically backward countries? And what can be done to prevent a few from commandeering the advantages? An interview with the 2001 Nobel Prize-winner, summarising the lessons learned at the 2018 Festival on Technology and Jobs.
Work without dignity that suffocates home life. What has happened to the “pursuit of happiness”, which the United States placed among the fundamental human rights to be safeguarded?
Pandemics and financial bubbles are not an evil belonging exclusively to our times. The historian Amedeo Feniello and the economic journalist Dino Pesole retrace almost eight centuries of history, beginning with the climate changes in the 14th century and continuing with the “Black Death”, to conclude with the first financial bubbles following the birth of modern banks. What answers were provided at the time by European countries and China? What lessons can we learn that may help us to deal with today’s crises? The journey ends with a comparison of globalisation in the 14th century and that characterising the new geopolitical balance in the last few decades, imagining what sort of globalisation models may establish themselves after the coronavirus pandemic.
Laurence Boone, Chief Economist at OECD, will illustrate and explain economic outlook scenarios for the economy in the coming years. Lucrezia Reichlin will discuss how effective the political response has been at European level to date. What will be the impact of the European Central Bank? What is the future of the Recovery Fund? The Scientific Director of the Festival will discuss the issues with the two economists.
The Bonfiglioli Group is a world leader in a highly specialised and technologically advanced sector. In order to achieve this result, it has invested heavily in research and development and in continuing training for its employees. Technological innovation and ecological transition are the basis of its business model. What can we learn from this successful case that can help get our country going again? The head of the Festival’s Editorial Committee talks to Sonia Bonfiglioli, Chairperson of Gruppo Bonfiglioli Riduttori, and the first woman to be given the EY award as best entrepreneur of the year.
Following the Covid-19 pandemic, teleworking, known as smart working in Italy, has become a term everyone knows. So why is it called smart working? Is it really smart? What are the positive and negative aspects of this new way of working. We talks to Andrea Garnero, an OECD economist.
To what extent can individual and corporate social responsibility represent an alternative to the failure of public redistribution policy? What does psychology and the economics of prosocial behaviour have to say about the matter?
The book chosen this week is “Deaths of Despair and the Future of Capitalism”, Princeton University Press (2020) by Anne Case and Angus Deaton, who was awarded the Nobel Prize for Economics in 2015. What are the “deaths of despair” (suicides, drug and alcohol abuse) in the USA, and which factors have led to an upsurge in their dramatic fate?
The COVID-19 pandemic has been a powerful blow to an international context already affected by the crisis in the international liberal order established after the Second World War. Despite the clear need to adopt coordinated and cooperative measures to limit diffusion of the virus and contain the economic and social impact, the main world powers have exacerbated the confrontation, accelerating a process of de-globalisation. The European Union stands out in this context, and the attempt to take a more central role in the international system represents an incentive to respond to the crisis resulting from the pandemic and other common challenges in a more cohesive manner.
The question of gender parity seems to have made a timid entry into the political programme, but is it possible to close the gender gap with a voucher? What is the origin of this gap and what is really needed to close it? We talk to Alessandra Casarico, editor of la voce.info..
Starring the magnificent Peter Sellers, the film is a biting comedy-drama delving pitilessly into the world of today’s ruling class. A delightful, inoffensive and illiterate man is mistaken for a great economist (today perhaps a virologist?) and is even admitted to the private circle of the great and powerful.
The impact of the coronavirus outbreak on the economy and society has widened the gender gap in the labour market and has not affected gender imbalance in the division of the family workload. Government choices about what and when to reopen, particularly the decision not to open educational services and schools, have revealed a vision of the family and gender roles, but also of the rights of children and teenagers, that is old-fashioned and out of touch, increasing not only gender inequality, but also social inequality.
Coronavirus has radically changed the workplace and ways of working, both in Italy and abroad. For the first time, millions of businesses have adopted teleworking. In the USA, major companies such as Google, Facebook and Apple have discovered that their staff are more productive at home than in the office. How are cities destined to change after COVID-19? A dialogue between one of the greatest experts in urban and labour economics, and the scientific director of the Festival.
Italy has responded rapidly and effectively to the health emergency, whereas it is finding it difficult to accelerate economic recovery. How have the economies of Latin America and the USA reacted to COVID-19? What can we learn from international experience? How can we reinforce our industrial fabric, characterised by small and medium-sized enterprises? The coordinator of the Editorial Committee, Innocenzo Cipolletta, talks to Roberto H. Tentori, Chairman of Grant Thornton Consultants.
Global value chains are a widespread phenomenon in the context of the world economy. What effects do they have on the GDP of a country and its businesses? What has the impact of COVID been on production chains? Will the pandemic encourage "reshoring"? We talk to Chiara Tomasi, Professor of Industrial Organisation at the University of Trento.
What are the key dynamics that drive the accumulation and distribution of income and wealth? Capital in the Twenty-First Century analyses a unique collection of data from twenty different countries, ranging as far back as the 18th century, to uncover the key economic and social patterns underlying the discussions that followed the publication of this best-selling book in Europe, Asia and America.
The United States have become one of the most unequal countries in the world. In contrast with what is often said, equal opportunities are today further away in the USA than in other advanced countries. Market forces (technology and globalisation) have played an important role in these dynamics. However, politics has done nothing to prevent the explosion of inequality, a phenomenon which is in no way inevitable. The lecture by the Professor of Economics and History at Northwestern University is extremely topical and gives us precious information on mistakes to be avoided in the future.
The first foreign-language film to have won Best Picture at the Oscars. Combining comedy and tragedy, it deals with the problem of inequality in advanced countries, which not only led to the Great Recession, but was exacerbated in subsequent years and will make recovery from the deep recession caused by COVID-19 particularly difficult.
What can we learn from the coronavirus pandemic in terms of health policy and the economics of healthcare? Walter Ricciardi, Professor and adviser to the Ministry of Health for the COVID-19 emergency, and Gilberto Turati, Professor of Financial Science, will talk about the issues, stimulated by questions from Laura Berti, scientific journalist for the TG2 news programme.
The Scientific Director of the Festival talks to Raffaella Sadun, Professor of Business Administration at Harvard Business School, about the lessons to be learned from the response to the COVID emergency for the management of health and specifically hospitals.
Innocenzo Cipolletta, Coordinator of the Festival’s editorial team, and Maria Patrizia Grieco, Chairperson of the bank Monte dei Paschi di Siena, discuss the challenges that Italy must face to attract more foreign investment, how to capitalize small and medium-sized businesses, and the importance of teleworking and work-life balance policy in the training of the future managerial class, policy increasingly oriented towards gender parity.
Health is a fundamental right of the individual and in the public interest. Never have these words been more relevant. But what does the term health mean? How can it be measured? In what ways has COVID-19 changed health and healthcare services in Italy? We talk to Gilberto Turati, an editor of lavoce.info.
The increase in global inequality has significant political implications: the birth of a middle class in Asia, the stagnation of the middle classes in wealthy countries, an increase in migration and the establishment of a global plutocracy. The coronavirus pandemic has further underlined trends already underway.
In the last ten years, as growth rates have slowed down, it has been argued that advanced economies are doomed to secular stagnation and that growth at high rates is over for good. What lessons can history teach us? The lecture by the Professor of Economics and History at Northwestern University is extremely topical and can provide us with precious information about mistakes to be avoided in the future.
The book chosen this week is “Rivoluzione globotica. Globalizzazione, robotica e futuro del Lavoro” by Richard Baldwin, published by Il Mulino (issued in English with the title “The Globotics Upheaval: Globalization, Robotics, and the Future of Work”). An analysis of how automation, artificial intelligence and robotics are transforming our lives at a devastating pace. The globotics revolution.
The publisher Giuseppe Laterza meets the Rector of the University of Trento and the Minister for Universities and Research to discuss the changes the pandemic has made in the field of university education. What is the government doing and how are teaching and research conditions changing?
At the centre of the discussion there is relaunching of the Italian economy. The funds allocated by the European Union are a major opportunity, but what strategy will the Italian government adopt to use them? What are the key sectors to focus on to kick start the country? A three-way discussion with the Festival’s Scientific Director, the Minister for Economic Affairs and Finance, Roberto Gualtieri and Bocconi University Professor of Economics, Guido Tabellini.
The coordinator of the Editorial Committee for Trento Festival of Economics converses with Carlo Rosa, CEO of DiaSorin, a global leader in the field of in vitro diagnostics, a company at the forefront in developing tests for COVID-19. What are the future challenges for the national health service?
The European Commission has proposed a €750 billion recovery fund that is targeted not just at combating the crisis caused by COVID-19, but also at renewing the European project. How will it work? What differences are there with the ESM? Will it be the first step towards the construction of fiscal union? We discuss the issues with Tommaso Monacelli, Professor of Monetary Economics and an editor of lavoce.info.
What economic research tells us about the factors behind obesity all over the world. The implications of the results on economic policy: how to improve the health of the population and contain healthcare costs in the light of these results.
uring the period of quarantine, the population was split in two: there were those dieting and those queueing up for charity food handouts. In what way is food the sign of a sick society?
First in 2007 and then in 2011, the French economist, winner of the Nobel Prize for Economics in 2019, gave two lectures in Trento on the subject that was to lead to her winning the illustrious prize 8 years later. In the lecture that we present, Esther Duflo illustrates the first results of her approach to combating poverty, based on scientific rigour and careful experimentation in the field.
The film based on John Steinbeck’s book is considered the manifesto of the American New Deal, namely the programme enacted by Roosevelt allowing the USA to recover from the Great Depression. Coming out in 1940, it appears astonishingly topical, allowing us to look at the economic disaster caused by the pandemic from a different viewpoint and to think about solutions for emerging on the other side.
After the coronavirus pandemic the economy will inevitably be affected by changes in the political scenario. For this reason, the Director of the School of International Studies at the University of Trento discusses the subject with the political scientist Nadia Urbinati, Professor di Political Theory at Columbia University in New York.
The coordinator of the Editorial Committee of Trento Festival of Economics discusses with Luigi Gubitosi, Managing Director of TIM, the latest innovations regarding smart working, the infrastructures necessary to guarantee everyone access to the web, 5G and the challenges for Italy, which wishes to accelerate its digitization.