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Donato Masciandaro

Artificial Intelligence, Stock Markets, and “Newton's Lesson”

Stock markets are in good health, but AI-related stocks are performing even better: within the generally positive trend of stock prices, the performance of companies associated with so-called artificial intelligence stands out. It is undeniable that the applications of technologies for the production and distribution of information and knowledge, summarized under the term "artificial intelligence," ...

Gianmarco Ottaviano

Western Sanctions and Russia's Resilience: A Dead End?

According to the Russian Statistical Office, 2023 saw the gross domestic product grow by 3.6%, outpacing the average global economic growth. While data from Moscow should be evaluated cautiously, even the IMF revised its estimate to 3%, suggesting that Russia's economy has indeed grown faster than the global average. The oil and gas industry has been at the forefront of supporting Moscow's economic ...

Stefano Pogutz, Francesco Perrini, Jan Hans Georg Pachner, Rafael Sardà, Federico Fumagalli

Protecting the Ocean for a Sustainable Planet

The health of the ocean is in critical condition, and it is deteriorating at a rate and in ways scientists say are unprecedented in the history of our planet. Huge amounts of plastics and chemicals are dumped into the environment every year in all parts of the world. Overexploitation of fish stocks has pushed fisheries of several species beyond the threshold of sustainability, with serious implications ...

Gianmarco Ottaviano

Marine and Submarine Routes: the Red Sea and the Future of Global Trade

We tend to think of the global market as a seamless large bazaar where goods from all over the world flow with ease. In reality, it consists of countless bazaars of all sizes, connected by a circular flow of goods. The most important connections are maritime, and they are quite few. For this reason, the attacks on ships off the coast of Yemen raise concerns that may seem exaggerated, considering that ...

Daniele Dotto

Bringing Innovation to EU Public Administrations

The communication “Enhancing the European Administrative Space,” also known as “ComPAct,”[1] was adopted by the European Commission on October 25, 2023. It is innovative in that, for the first time, the Commission proposes a comprehensive set of actions in support of administrative modernization and cooperation in and between Member States at all levels (national, regional and local). The ...

Donato Masciandaro

European Capital Markets: The Lost Decade and Draghi’s Wake-Up Call

European stock markets are thriving, but this is not necessarily a sign of a broader positive trend. In fact, if politicians and bureaucrats fail to act, the Union could lose the historic opportunity to create the European capital market it so desperately needs, especially in light of the challenges posed by the "Three Ds"—deglobalization, demographics with declining birth rates, and decarbonization. ...

Sandro Castaldo

A Journal with an Impact

One of the priority issues facing the different management disciplines today is the critical question of research impact. We are confronted with the question of how to translate the immense potential of knowledge produced by the scientific community into management practices that are useful for transforming organizations and their processes to create value and generate welfare for society. In management ...

Donato Masciandaro

Declining Interest Rates and the Five Faces of the Fed

In recent months, financial markets seem stuck in a repetitive cycle: analysts closely watch US economic indicators to gauge the timing of the Fed's interest rate cuts. This represents the "macroeconomic" face of the Fed. Yet, there are at least four other faces that need attention: the political and bureaucratic ones, followed by the psychological aspect, and not forgetting, albeit last, the financial. Last ...

Sylvie Goulard

Beyond illusions, within limits: business and the sustainability challenge

Since the beginning of the industrial revolution, we have drawn on natural resources as if they were limitless. The air and water, the soil, the fish and the trees, all living things seemed at our disposal. Economic science has long suggested that wealth results from the combination of only two factors of production: capital and labor. As Jean-Baptiste Say wrote in 1803 in his book on Political Economy: ...

Gianmarco Ottaviano

The Oval Office Desk and the Paradoxes of Trump’s Protectionism

In a remake of a film already seen in 2018, President Donald Trump has resumed imposing or threatening to impose tariffs on imports from the United States’ main trading partners. Now, as then, the rationale behind this escalation is twofold. On the one hand, an administration led by a “deal-maker” believes that all trade agreements signed by previous administrations (including his own, as in ...