The programme of the Festival
The central programme of the Festival, highlighted in a box, has been planned by the organisers together with the Scientific Coordinator. The joint programme is made up of meetings and events suggested to the organisers by publishers and other organisations, which take responsibility for them.
At events indicated with the symbol a simultaneous translation service is available.
Information regarding the programme, last minute changes, changes of venue in the event of rain or other circumstances and events suspended or cancelled is constantly updated at the site or may be requested at the information points, by telephoning the administration office (tel. 0461 260511).
Entrance is free until full capacity is reached
All modern societies are becoming inexorably more ethnically diverse. This diversity will have many benefits, but it will also pose serious challenges to social solidarity in our societies. What might we learn from the history of immigrant societies about how to combine ethnic diversity and common identity?
Introduced by Gianni Riotta
The recent recession was triggered by the bursting of a major property bubble. The Great Depression of 1929 also originated in the housing market. A Nobel Prize winner examines the similarities and differences between the two episodes. What happens to prices in a market where a great deal of basic information is lacking?
introduced by Matteo Motterlini
How and what do we know about the ownership structure and corporate governance of major Italian companies? Are the data on corporate governance, which often have a significant influence on the market, politics and the media, sufficiently transparent? Drawing on his own experience, a leading figure in Italian capitalism reflects on shareholders’ agreements, cross holdings and access to company information.
intoduced by Tobias Piller
Media companies are platforms that must satisfy two types of demand; content for the public and advertising space for advertisers. This, in turn, has a major impact on the sector’s market structure and the diversification of content. It is against this background that the challenges posed to traditional information by the free press, pay-TV and web sites ought to be analyzed.
introduced by Andrea Bellavita
Casting a "net" means allowing the circulation of information and experience even in the most isolated and forgotten places around the world. If the Universal Declaration of Human Rights has established that access to education and participation in cultural and scientific life is a fundamental right, today an even more fundamental right is access to the web and its content.
organised by the Centro per la Formazione alla Solidarietà Internazionale di Trento
speaker Rudy Aernoudt
The Noisefromamerika collective
organised by Ancora del Mediterraneo
Privatization, deregulation and other pro-market reforms are often unpopular. Are economists just wrong (and these reforms really are welfare reducing), or is it that voters have been subject to populist propaganda by a biased media? A randomized field experiment in Argentina supplies some important insights into these questions.
introduced by Lucia Magi
We are increasingly reading and writing texts on media other than paper. How will forms of knowledge change if and when they are primarily conveyed via the web and digital media? And how will the publishing market evolve? These questions are discussed by an economist, a publisher and an expert in new media.
introduced by Stefano Salis
Comparison of the rules and values safeguarding the official and effective accuracy of accounting and financial information.
A panorama of the costs linked to the purchase of property: taxes, VAT, stamp duty, special terms for "first home" and notary fees.
To what extent does the media influence what voters know, what politicians do, and government policy? When the media is "captured" by politicians what effects does this have on the way they justify their actions to voters? What happens when the press is free, but supplies little political information?
introduced by Alessandra Sardoni
The international crisis raises important questions about the development model introduced in Western-Eastern Europe after 1989, the vulnerability of these economies and their ability to react to external shocks. Hungary and Poland: a comparison of two cases.
Many effective decisions can also be taken when information is scarce and cognitive abilities are limited. Cognitive limitations can paradoxically become advantageous when information is incomplete.
introduced by Luigi Mittone
The crisis of 1929 strucks Italy two years later, in 1931. The flight from bank deposits to post offices and the withdrawal of short-term deposits granted by foreign banks to the major Italian banks led to a state bail out and the creation of the Institute for Industrial Reconstruction (IRI). Then as now, Italy was hit by the international crisis in the midst of a recession. Are we facing another 1931?
introduced by Pierangelo Giovanetti
The privatization of Italy's flagship company became a national affair, even influencing the 2008 electoral campaign. Much of what was said at the time was divorced from reality. Information was limited. Almost two years down the road, with the help of the company that acquired it – CAI – and two economists who have studied developments in Italy’s strategic infrastructure projects, we will try to get to the heart of the Alitalia affair.
introduced by Marco Panara
Italy is very behind in terms of female representation, both in institutions and in businesses. And yet greater representation for women leads to increased income and better organisational health, as it is shown in a study by Valore D, an association of 35 major companies promoting an increase in the number of women at the top.
The explanations offered for the current economic crisis constantly refer to three concepts – trust, networks and contagion – which rarely feature in economic models. If we think about the players in the system – individuals, companies and banks – as subjects who interact constantly and much more "locally" than is thought, then perhaps ant and bee colonies can suggest some interesting models for analyzing modern times.
introduced by Frank Paul Weber
It is often said that without patents pharmaceutical companies would no longer be able to introduce new drugs and that without copyright books would no longer be published, music no longer broadcast and films no longer made. Is it true, then, that with weaker intellectual property rights and greater freedom to copy others, technological progress and artistic creativity would suffer? No, it is not self-evident that this is the case. Indeed, it is very likely that the opposite is true.
introduced by Anna Masera
A widespread lack of financial knowledge leads to negative consequences in relation to the economic choices of individuals. The recent establishing of a high school focusing on economic and social subjects is an interesting step forwards.
In collaboration with young entrepreneurs from Trentino
The public can meet the Festival speakers at the bar.
American banks were the first to go into crisis, bringing the entire financial system with them. A great deal of criticism has centred on the lack of information by Wall Street players. Europe went into recession later but here too the crisis of the real economy is generating unemployment and a decline in consumption. The managing director and CEO of Intesa Sanpaolo analyzes the differences between Italy's economic system and that of the countries most similar to it, as well as the choices necessary for a return to growth.
introduced by Jennifer Clark
Content, checks, guarantees and costs safeguarding both parties participating in the sale of property.
Households and firms have a limited capacity to process information on the behaviour of economic aggregates. This means that prices, investments, employment and other macroeconomic variables only respond to shocks of a certain gravity and when they evolve, the variations are anything but marginal. Many economic phenomena can be explained in this way.
introduced by Eric Jozsef
Traditional newspapers are struggling to survive, while news is increasingly distributed via the internet. To what extent does the retreat of traditional newspapers influence the democratic debate? From the United States to the United Kingdom, and from China to Italy, the transformation of the media is casting fresh doubt on the relationship between the fourth power and political and economic power, and ultimately on the very freedom of the press.
introduced by Enrico Franceschini
The Great Crisis also brought many companies in Italy subjected to aggressive leverage buyout operations to their knees, also bringing private equity funds and the use of leverage under accusation. Thanks to funds, many Italian companies have grown and become more transparent and credible, as well as bigger and more competitive. What is the balance to date?
What are the differences between TV journalism in Italy and that in other countries? How is politics dealt with on TV? What is the information content of talk shows compared with investigative journalism? How did the media behave and how should they have behaved during the crisis? Experts and leading names in Italian and foreign media exchange ideas.
coordinated by Beppe Severgnini
In India compulsory schooling has only been considered a priority in the past 7-8 years. It is not just a question of infrastructure. Recruitment systems for teachers, career paths and even school inspections are strongly influenced by trade unions and politics, whereas incentives to improve the quality of education are limited and those in favour of innovation even more so. What can be done to improve incentives?
introduced by Antonella Rampino
Many economic relationships are characterized by asymmetric information, namely by the fact that one party is privy to better information than the other. This situation often occurs in the credit, insurance and job markets. The presence of asymmetric information creates distortions, producing inefficiencies and a decline in wellbeing. Why is it that Adam Smith's invisible hand cannot operate when there is asymmetric information and what instruments can mitigate the inefficiencies it generates?
introduced by Matteo Ploner
2010 is the year of biodiversity. The management and use of collective property along with conservation of natural values and biodiversity over time may offer a model for the economy.
How do we make decisions? In order to decide using our common sense we require information. First, we must weigh this information, next, arrange it in terms of relevance, and lastly, assess the possible consequences of a given decision. The speaker examines the contribution of cognitive neuroscience to understanding decision-making processes in economic, social and moral contexts.
introduced by Armando Massarenti
For the first time, Ilvo Diamanti presents the data from the European monitoring unit on law and order, a joint initiative of Demos, the Pavia monitoring unit and Fondazione Unipolis. The data concerns perceptions of crime and law and order in Italy, Germany, France, Spain and other European countries, compared with the actual statistics on crime. The presentation will be followed by a discussion with Gian Antonio Stella.
introduced by Alberto Faustini
New forms of protection for those wishing to purchase a house in construction, on paper or unfinished.
The global financial crisis and the ensuing recession have revealed the shortcomings of financial regulation and monetary policies, but also of the economic and financial theories underpinning regulatory systems. The resulting problems can be traced back to three major areas: information, instability and incentives. Rather than trying to establish fixed rules of conduct, which have already proved ineffective, it is better to understand and attempt to govern the forces influencing behaviour.
introduced by Giorgio Fodor
The recent crisis has accentuated problems of trust between banks and borrowers. Cooperative credit has traditionally overcome these difficulties thanks to a continuous presence and close link with the area. The event is intended to illustrate and discuss some aspects of this phenomenon.
Is it time to subject the development model based on growth and the market to serious discussion?
The practice of democracy must be based on a "shared knowledge", on the recognition of the major problems afflicting a nation. In Italy, instead, statistics are often challenged as soon as they fail to confirm the ideas of the politician of the day. How can we improve the quality of statistics, the independence of Italy’s National Institute of Statistics (Istat) and the awareness of citizens? How can Italy, as happens elsewhere, launch bipartisan initiatives to monitor the country’s situation based on a limited number of statistical indicators? An expert in applied economics and an economist close to policy-makers discuss the matter with the President of Istat.
introduced by Enrico Franco
Italians have on average a limited knowledge of financial phenomena. The world of information is increasingly called upon to contribute towards correcting this problem, while new channels of information increase the possibility of disseminating knowledge.
In perceptions of immigration and attitudes towards immigrants the differences between and among countries are only partly explained by the economic effects of immigration; what happens to wages for example, or work for locals? What instead appears to count is widespread perceptions regarding the cultural and religious differences of immigrants with respect to the native population.
introduced by Corrado Giustiniani
The nature of the financial crisis is also a consequence of the poor and unclear information given to savers. Socially responsible investments are a concrete tool for encouraging a different attitude, paying attention to the social and environmental dimension, without sacrificing the economic aspect.
The role of call centres is destined to increase in society. The relationship between companies and clients, institutions and citizens, will increasingly take place through the expression of needs and responses on the telephone. However, is the image of the call centre as a place of intensive exploitation of unqualified manpower, reflected by successful books and films, actually true? The debate organised by "Il Diario del Lavoro" offers an opportunity to reflect.
The government of Bhutan has decided to substitute certain GDP indicators with measurements of happiness as perceived by its inhabitants. A dialogue between an economist and the Prime Minister of Bhutan on the pros and cons of this decision in terms of the quality of happiness measurements, the implications for economic policy and for democracy.
introduced by Federico Fubini
How important are economic web sites in shaping public policy? How can they survive while safeguarding their independence? The founder of Marginal Revolution discusses the question with other regulars on the web sites dedicated to economic information and debate that have sprung up in the last few years.
introduced by Stefano Feltri
organised by Mondadori
discussed by Alessandro Rosina
A survey of 50,000 articles published in the "Lavoro di Genova", "Avanti" and the "Popolo d’Italia", in the period between 1919 and 1922, shows how the representation of violence and the structure of social relations changed depending on how the players, actions and relevant themes were portrayed. Statistical analysis structured around the use of networking models, combined with observation of the geographic information system (GIS) illustrates the impact of information on the perception of social phenomena.
introduced by Giuliano Giubilei
For the Mafia and other illegal powers information is essential: in a world where threats are ever-present, an ill-advised gesture is enough to trigger a war. Trust between criminals is as rare as it is important for cooperating in illegal activities. How can criminals achieve reliability? By using the skeletons in their own closets, revealing their ill-doings of their own accord to leave themselves vulnerable to blackmail. A surprising but widespread practice among the Mafia, paedophiles and corrupt politicians.
introduced by Dario Laruffa
In collaboration with young entrepreneurs from Trentino
The public can meet the Festival speakers at the bar.
The hesitant reforms of financial markets launched after the crisis continue to safeguard the position of the major banks, which had a central role in sparking off the crisis. Not only are they too big to fail, but above all they are too powerful to be penalized by the reforms needed to ward off a new crisis. What can be done to counter the power of Wall Street?
introduced by Stefano Lepri
Finding a way through the maze of interest rates, guarantees, mortgages, early payment of the debt and portability, in order to safeguard savings.
Nowadays the production and dissemination of information are entrusted to private companies and media markets. The fate of pluralism depends on them. In many democratic countries there is an increasing concentration both of television and newspapers, driven by competitive processes between media operators. Ownership of the means of information is often used by governments as a political bargaining counter. How can the regulation of the media reconcile the market and pluralism?
introduced by Massimo Sideri
The internet has multiplied the quantity of data available exponentially, to the extent that eliminating excess information has become a priority, filtering rather than searching for it. Google is currently the most powerful of these filters. It is Google that organizes and creates a hierarchy of information for us (including for books and news), playing a key role in guiding our choices. An expert in collective behaviour and new media discusses the question with a manager from Google.
Is it still possible for a journalist to act as a "watch dog" with respect to power? In her television programme Report, Milena Gabanelli – with limited resources and overcoming countless difficulties – has carried out investigations which have been a thorn in the side of powerful political and economic figures for many years. But with what results? How many obstacles to transparency are erected by powers that all too often seek publicity but not information?
introduced by Miguel Mora
Advertising accounts for around half of the income generated by the various means of communication, while at the same time advertising and the media are part of the same market: the media represents a substantial share of advertising. When advertising can influence information or when the innovations of the internet transform the boundaries of commercial communication and information, short-circuits are produced that are hazardous to the public.
introduced by Edoardo Gaffeo
Transparency and communication are two concepts which have almost become clichés. So what are the possible relations between the two concepts in various interpretational contexts? There are three perspectives to be analysed. Public and private organisations for whom transparency implies consistency between behaviour and communication. The public relations professional, for whom transparency means declaring who you are, what you represent and the objectives you pursue. Lastly for the public, transparency means consistency between opinions, attitudes and behaviour.
Rupert Murdoch is the owner of a sprawling media empire that extends throughout the world and includes books, newspapers and television. Today he faces the internet revolution and is launching a challenge to free news on the web. The latest adventure of Murdoch in the words of an American journalist, opinion leader on the transformation of the media ecosystem and himself an entrepreneur in the sector.
introduced by Massimo Gaggi
Television as a medium is spreading extremely rapidly in developing countries. This means that a growing section of the global population is exposed to western models of consumption and behaviour through TV programmes. What are the consequences of all this on the choices of families in the areas of fertility, education, social cooperation and conflict, in places as far-flung as Brazil, India and Rwanda? And can fiction become an instrument of social change?
introduced by Antonio Dipollina
The communications industry and IT revolutions hold enormous promise for development, but in a world of information overload it will no longer be enough just to have skills to earn a livelihood. The ultimate scarce resource will be the limited attention span of the world's consumers, as countries everywhere face the prospect of large numbers of educated but unemployed young people, whose resentment at the vast earnings of a fortunate few will be a major challenge for social cohesion.
introduced by Pietro Veronese
organised by Egea
discussed by Innocenzo Cipolletta
Recent technology makes it possible to make large quantities of public digitalised data accessible and easily exploitable. This is a precious resource for development of the area. What conditions can ensure that this new common asset is fully available for society and the economy?
How did we arrive at the great recession? And is the crisis really over? What can be done to avoid the risk of a long phase of anaemic growth in the global economy? Or to deal with the global imbalances that contributed to the crisis? The analysis of an economist who clearly foresaw the burgeoning crisis.
introduced by Tito Boeri
After months of deadlock in financial markets caused by the lack of transparency of financial middlemen balance sheets, in Autumn 2008 businesses froze their investment and employment plans and households radically reduced spending, waiting for the "fog to clear". Central banks and governments responded by bringing interest rates down to zero and allowing public deficits to increase. But what can economic policy do to remedy the deficit in terms of trust and information and to consolidate the recovery?
introduced by Dino Pesole
organised by Chiarelettere
discussed by Vittorio Giacopini
What happens when the political control of a television channel changes hands? Do viewers use the power of the remote control by changing channel? If yes, how many? A study on what happened after the changes in the top management of RAI state television in Italy offers important answers to these questions.
introduced by Felice Blasi
Around half the revenue of Italian newspapers comes from advertising space bought by businesses, while the papers often report on these same businesses in their articles and editorials. The aim should be to inform the reader, but a number of questions arise naturally: do newspapers treat companies that purchase advertising space in them differently? How much do property links between businesses and newspapers count? Here are the results of a very recent empirical study on the subject.
introduced Laura Strada
In collaboration with young entrepreneurs from Trentino
The public can meet the Festival speakers at the bar.
The role of overseas Chinese in relation to the development of China and the local situations in the places of residence.
Spectators present at the events allow and authorise future use of any photographs taken and any film or audio sequences recorded.
at the frontierLive discussion of the most advanced research, emerging issues and the most innovative laboratories
dialoguesTwo different points of view, two contrasting ways of looking at a problem and two possible alternatives for solving it
focusA closer look at a phenomenon on the public agenda
intersectionsFrom history to sociology and philosophy. How much and what other disciplines have to say about the economic situation
keywordsA minimalist glossary: the fundamental terms for finding one's bearing and forming an opinion
past and presentIf something happens only once, it is as if it has never happened: the myth of the eternal return of the same accompanies a great deal of literature and philosophy. Is the same true of history? And economics? In the new "past and present" format, the Festival intends to investigate analogous elements and profound differences characterising a succession of apparently very similar events: financial crises, speculative bubbles, fears about the escalation of violence and the invasion of "foreigners". Interpreting history in order to understand the present and perhaps avoid some future mistakes
witnesses of timeIntellectual experiences, life choices and first hand stories recounted in person by those who have experienced them
true or falseWhen one tries to distinguish the true from the false, one often tries to compare the facts with opinions, distinguishing data from interpretations. Is this always possible? The fifth edition of the Festival of Economics offers a new format, following the success of the "trials" in 2009. Once again this year a jury of students will listen to the reasons behind the "true" and the "false" in relation to the cost of policy for climate change, the "immigration means crime" equation and the effective danger of the last flu epidemic and will issue a motivated judgement on the basis of the reasoning behind the "true" or the "false".
visionsOur present and near future in the opinion of important figures on the international cultural scene
the economics cafèThe history of culture often includes public places that have become centres for coming together, discussion and intellectual exchange, from the futurists who animated the "Giubbe Rosse" café in Florence to the unforgettable cafés of the " rive gauche" in Paris. For this fifth edition of the Festival, Trento offers its residents and the festival public the magnificent cafés of the historic centre, in order to inaugurate a new cultural tradition and allow them to learn more about economics and its protagonists, from even closer
meetings with authors