Countries around the world want to bend companies to their will.

“Milton Friedman is reputed to have said that the business of business is business. Companies may need incentives to do the right thing. But the incentives must spurn favoritism, spur dynamism and maintain openness. And many now being bandied about or enacted do not.” 

The recent issue of The Economist on “The Bossy State” (January 15th, 2022) examines a new phase in governments’ relation with business, characterized by more industrial policy, more regulations and higher taxes.

This will be the theme of the next appointment of the Next Generation Series on June 16. 

It is true that markets can misfire and that governments need to ensure that new technologies and business models do not do more harm than good. However, a state that is too hands-on may create uncertainty and stifle innovation that ultimately create economic opportunities and raise living standards.

The case of the European Union is paradigmatic. The bloc has fallen behind in many of the technologies crucial in the global battle for digital leadership (as discussed in the Vision think-tank’s concept paper on “Time for Europe's Man on the Moon Moment”). It has rightly decided that fair competition in digital markets is key to its own future. Will the EU’s legislative package in the area—which includes the Digital Markets Act, the Digital Services Act, the Digital Data Act and the General Data Protection Regulation—help create an environment in which this objective can be achieved? Can the EU’s proposals protect consumers and citizens while fostering innovation? Is this the right approach to promoting the EU’s digital leadership?

As part of its Next Generation Series and after the Third Vision Siena Conference on the Future of Euorpe that took place in Siena from the 26th to the 28th of May, Vision is proposing a debate that would further examine the themes of The Bossy State with Henry Tricks (Schumpeter columnist at The Economist), Francesco Grillo (Director at Vision), Jan Piotrowski (Business editor at The Economist), Eleonora Faina (Director General – ANITEC – ASSINFORM), Roberto Viola* (General Director, DG Connect),  Diego Ciulli (Head of Government Affairs and Public Policy, Google Italy), Sabrina Pignedoli (Italian MEP), Angelo Mazzetti (Head of Public Policy - Italy, Greece, Malta and Cyprus - Meta), Francesco Bonfiglio (Chief Executive Officer - GAIA X), Antonio Nicita (Professor Economic Policy LUMSA University), Ernest J. Wilson III (Former Dean Annenberg School of Communication).

*to be confirmed 

Program: 

“THE FUTURE OF EUROPE AND THE BOSSY STATE. IS THERE A RIGHT APPROACH TO REGULATE GLOBAL DIGITAL PLATFORMS AND IS THERE A ROLE OF THE STATE TO UNLEASH CREATIVE DESTRUCTION?”

18.30 – 18.32 Introduction to the debate: Henry Tricks (Schumpeter columnist at The Economist)

18.32 – 18.36 Introduction to the Vision Siena Conference on the Future of Europe paper: Francesco Grillo (Vision Director)

18.36 – 18.40 “The Bossy State - Revisited”: Jan Piotrowski (Business Editor at The Economist)

18.40 – 18.44 Sabrina Pignedoli - Brief overview of the state of the art of the European Parliament initiative

18.44 - 18.48 The Schumpeter's point of view - Can Europe still afford destructive innovation? - Henry Tricks

18:48 – 19.08 Eleonora Faina (Director General – ANITEC – ASSINFORM), Diego Ciulli (Head of Government Affairs and Public Policy, Google Italy), Francesco Bonfiglio (Chief Executive Officer - GAIA X), Antonio Nicita (Professor Economic Policy LUMSA University), Ernest J. Wilson III (Former Dean Annenberg School of Communication), Sabrina Pignedoli (Italian MEP), Angelo Mazzetti (Head of Public Policy - Italy, Greece, Malta and Cyprus - Meta).

19.08 – 19.25 – Q/A

19.25 - 19.30 Will the BOSSY STATE era last? Very final remarks from Jan Piotrowski, Sabrina Pignedoli and Francesco Grillo.

Conclusions: Henry Tricks

*to be confirmed 

To attend the event, please contact Clara Donati (This email address is being protected from spambots. You need JavaScript enabled to view it.) and Federica Fusco (This email address is being protected from spambots. You need JavaScript enabled to view it.).