The Global Legal Standards Report

The IUC Independent Policy Report was drafted by the “IUC Legal Standards Research Group," organized by a Steering Committee chaired by Ugo Mattei (International University College of Turin), coordinated by Edoardo Reviglio (International University College of Turin) and Giuseppe Mastruzzo (International University College of Turin), and composed by Franco Bassanini (University of Rome “La Sapienza"), Guido Calabresi (Yale University), Antoine Garapon (Institut des Hautes Etudes sur la Justice, Paris), and Tibor Varady (Central European University, Budapest). Contributors include Eugenio Barcellona (Eastern Piedmont University), Mauro Bussani (University of Trieste), Giuliano G. Castellano (Ecole Polytechnique, Preg/CRG), Moussa Djiré (Bamako University), Liu Guanghua (Lanzhou University), Golnoosh Hakimdavar (University of Turin), John Haskell (SOAS), Jedidiah J. Kroncke (Yale Law School), Andrea Lollini (Bologna University), Alberto Lucarelli (Federico II University), Boris N. Mamlyuk, (University of Turin), Alberto Monti (Bocconi University), Sergio Ariel Muro (Torquato di Tella University), Domenico Nicolò (Mediterranean University of Reggio Calabria), and Nicola Sartori (University of Michigan).

IUC Independent Policy Report: At the End of the End of History

The IUC Independent Policy Report was drafted by the IUC Legal Standards Research Group, organized by a Steering Committee chaired by Ugo Mattei (International University College of Turin), coordinated by Edoardo Reviglio (International University College of Turin) and Giuseppe Mastruzzo (International University College of Turin), and composed by Franco Bassanini (University of Rome “La Sapienza”), Guido Calabresi (Yale University), Antoine Garapon (Institut des Hautes Etudes sur la Justice, Paris), and Tibor Varady (Central European University, Budapest). Contributors include Eugenio Barcellona (Eastern Piedmont University), Mauro Bussani (University of Trieste), Giuliano G. Castellano (Ecole Polytechnique Preg/CRG), Moussa Djir´e (Bamako University), Liu Guanghua (Lanzhou University), Golnoosh Hakimdavar (University of Turin), John Haskell (SOAS), Jedidiah J. Kroncke (Yale Law School), Andrea Lollini (Bologna University), Alberto Lucarelli (Federico II University), Boris N. Mamlyuk, (University of Turin), Alberto Monti (Bocconi University), Sergio Ariel Muro (Torquato di Tella University), Domenico Nicol`o (Mediterranean University of Reggio Calabria), and Nicola Sartori (University of Michigan). The IUC Independent Policy Report argues for a radical change of perspective, capable of restoring the supremacy of the law over the economic system. It is not only about finance, nor is it only about economics or policy. In this sense a transnational set of normative principles is needed in order to establish a global legal system capable of controlling economic processes, rather than being controlled by them. Within this framework a series of policy proposals are presented in order to effectively implement a new system of global standards. The current Western standard of living is unsustainable. Should the rest share the model of development of the West, our planet will simply not be capable of resisting the growth in consumption and pollution. Within this fundamental setting of scarcity in resources, using the rhetoric of the end of history as the polar star for growth, development and ultimately happiness of the whole world is simply a cynical lie. We argue here for the beginning of a necessary process aimed at the development of a legal system that is much less about creating an effcient backbone for an exploitive economy and much more about a vision of civilization, justice and respect where the laws of nature and those of humans converge in a sustainable long-term philosophy. Principles of justice, responsibility and long term environmental protection, rather than short term economic contingency and strong interests must set the legal agenda. A new governance and bottom-up inclusive integration of knowledge-based economies (wherever located), which is crucial to the very survival of humankind, cannot happen without defning new terms of a widely accepted standard of long term justice in the transnational context, hence the urgency to conceive legitimate transnational legal structures and possibly some apparatus of “superlegality.” The report is composed of fve sections. After having presented the pitfalls of the prevailing theoretical apparatus, an alternative cultural grid upon which policy actions should be shaped is presented. In this sense several normative proposals - revisiting the key characteristics of the current system - are offered aiming at acquiring a wider perspective over the actual global crisis

IUC Independent Policy Report: At the End of the End of History: Global Legal Standards: Part of the Solution or Part of the Problem?

This draft was presented at the seminar, Global Standards in the 21st Century, organized by the G8 Presidency in Rome at the Ministry of Economy and Finance and Villa Madama on the 11-12th of May 2009. The IUC Independent Policy Report was drafted by the IUC Legal Standards Research Group, organized by a Steering Committee chaired by Ugo Mattei (International University College of Turin), coordinated by Edoardo Reviglio (International University College of Turin) and Giuseppe Mastruzzo (International University College of Turin),The IUC Independent Policy Report prepared by a group of lawyers at the International University College of Turin was presented at the meeting convened by the G8 Presidency in Rome on May 12, 2009.The IUC Independent Policy Report was drafted by the IUC Legal Standards Research Group, organized by a Steering Committee chaired by Ugo Mattei (International University College of Turin), coordinated by Edoardo Reviglio (International University College of Turin) and Giuseppe Mastruzzo (International University College of Turin), and composed by Franco Bassanini (University of Rome “La Sapienza”), Guido Calabresi (Yale University), Antoine Garapon (Institut des Hautes Etudes sur la Justice, Paris), and Tibor Varady (Central European University, Budapest). Contributors include Eugenio Barcellona (Eastern Piedmont University), Mauro Bussani (University of Trieste), Giuliano G. Castellano (Ecole Polytechnique Preg/CRG), Moussa Djir´e (Bamako University), Liu Guanghua (Lanzhou University), Golnoosh Hakimdavar (University of Turin), John Haskell (SOAS), Jedidiah J. Kroncke (Yale Law School), Andrea Lollini (Bologna University), Alberto Lucarelli (Federico II University), Boris N. Mamlyuk, (University of Turin), Alberto Monti (Bocconi University), Sergio Ariel Muro (Torquato di Tella University), Domenico Nicol`o (Mediterranean University of Reggio Calabria), and Nicola Sartori (University of Michigan). The IUC Independent Policy Report argues for a radical change of perspective, capable of restoring the supremacy of the law over the economic system. It is not only about finance, nor is it only about economics or policy. In this sense a transnational set of normative principles is needed in order to establish a global legal system capable of controlling economic processes, rather than being controlled by them. Within this framework a series of policy proposals are presented in order to effectively implement a new system of global standards. The current Western standard of living is unsustainable. Should the rest share the model of development of the West, our planet will simply not be capable of resisting the growth in consumption and pollution. Within this fundamental setting of scarcity in resources, using the rhetoric of the end of history as the polar star for growth, development and ultimately happiness of the whole world is simply a cynical lie. We argue here for the beginning of a necessary process aimed at the development of a legal system that is much less about creating an effcient backbone for an exploitive economy and much more about a vision of civilization, justice and respect where the laws of nature and those of humans converge in a sustainable long-term philosophy. Principles of justice, responsibility and long term environmental protection, rather than short term economic contingency and strong interests must set the legal agenda. A new governance and bottom-up inclusive integration of knowledge-based economies (wherever located), which is crucial to the very survival of humankind, cannot happen without defning new terms of a widely accepted standard of long term justice in the transnational context, hence the urgency to conceive legitimate transnational legal structures and possibly some apparatus of “superlegality.” The report is composed of fve sections. After having presented the pitfalls of the prevailing theoretical apparatus, an alternative cultural grid upon which policy actions should be shaped is presented. In this sense several normative proposals - revisiting the key characteristics of the current system - are offered aiming at acquiring a wider perspective over the actual global crisi

Rilanciare gli investimenti pubblici e privati in favore delle infrastrutture sociali e delle reti di welfare territoriale

Il saggio si concentra sulle strategie di rilancio degli investimenti pubblici e privati in favore delle infrastrutture sociali. Dopo una disamina delle dotazioni infrastrutturali a livello dei principali paesi europei, il saggio focalizza la propria attenzione sulle strategie adottate in alcuni paesi europei: Italia, Francia, Regno Unito, tra pressioni alla finanziarizzazione del sociale e nuovo interventismo pubblic

Financial Stability, Fiscal Consolidation and Long-Term Investment after the Crisis

In the future there will be a global growing demand for long-term investment, both in mature and in emerging countries, to finance infrastructure, innovation, education, growth, environmental programs. Mature economies will also need to increase their share of long-term investment to exit from the recent crisis, to reinforce their growth rates and global competitiveness and to ensure public debt sustainability. Given the need to enlarge the amount of long-term financing worldwide, policy makers should create a prudential and accounting framework that encourages long-term investment with positive effects for growth and financial market stability. The paper then discusses regulatory issues related to the introduction of a new international and/or European regulatory framework that is more favourable or less penalising for long-term investment, and issues related to the creation of new euro denominated financial instruments for financing infrastructure (long-term equity funds, project bonds and guarantee schemes) and for strengthening stability in EU sovereign bond markets (Eurobonds).

Social investment and infrastructure

Ten years after the first economic crisis of twenty-first century capitalism, Europe seems to have passed the nadir of the Great Recession. Time to count our blessings: a rerun of the Great Depression has been avoided and recovery, albeit timid, is under way, while unemployment and poverty are coming down. The jury is still out on whether economic and job growth will return to pre-crisis levels. Unemployment remains high in the European Union (EU), especially in the economies heavily scarred by the European debt crisis, such as Greece and Spain. The political aftershocks of the Great Recession — ranging from a rather hard Brexit, the rise of populism in Western Europe, the spread of illiberal nationalism in Eastern Europe, and escalating trade tensions between China and the United States (US) — forecast the deceleration of the world economy, and the challenges of a costly transformation into a greener world economy now confront the European Union project, anchored on a premise of peace, prosperity and democracy, underpinned by an existential predicament

7. Social Investment and Infrastructure

Introduction: The Welfare Lesson from the Great Recession Ten years after the first economic crisis of twenty-first century capitalism, Europe seems to have passed the nadir of the Great Recession. Time to count our blessings: a rerun of the Great Depression has been avoided and recovery, albeit timid, is under way, while unemployment and poverty are coming down. The jury is still out on whether economic and job growth will return to pre-crisis levels. Unemployment remains high in the Europea..

La finanza pubblica italiana. Rapporto 2012

Il Rapporto come di consueto pone sotto osservazione critica le politiche pubbliche adottate nell’ultimo anno con riferimento ai più rilevanti ambiti d’intervento pubblico, vale a dire conti pubblici, fisco, previdenza e assistenza, sanità, federalismo, public utilities. Il Rapporto di quest’anno riveste un interesse particolare perché giunge in un momento di grandi cambiamenti in risposta alla crisi del debito che l’Italia sta affrontando e aiuterà a capire la portata delle riforme che sono state messe in atto per il consolidamento dei conti pubblici

A European Public Investment Outlook

This outlook provides a focused assessment of the state of public capital in the major European countries and identifies areas where public investment could contribute more to stable and sustainable growth. A European Public Investment Outlook brings together contributions from a range of international authors from diverse intellectual and professional backgrounds, providing a valuable resource for the policy-making community in Europe to feed their discussion on public investment. The volume both offers sector-specific advice and highlights larger areas which should be prioritized in the policy debate (from transport to social capital, R&D and the environment). The Outlook is structured into two parts: the chapters of Part I respectively explore public investment trends in France, Germany, Italy, Spain and Europe as a whole, and illuminate how the legacy of the 2008 Global Financial Crisis is one of insufficient public investment. Part II investigates some areas into which resources could be channelled to reverse the recent trend and provide European economies with an adequate public capital stock. The essays in this outlook collectively foster a broad approach to and definition of public investment, that is today more relevant than ever. Offering up a timely and clear case for the elimination of bias against investment in European fiscal rules, this outlook is a welcome contribution to the European debate, aimed both at policy makers and general readers. As with all Open Book publications, this entire book is available to read for free on the publisher’s website. Printed and digital editions, together with supplementary digital material, can also be found at www.openbookpublishers.co