The first day of the Trento Economics Festival 2019 is in the books. Italian economist and Scientific Director of the Festival, Tito Boeri, opened the afternoon at a packed Palazzo della Provincia with a panel discussion which highlighted key topics for the next few days. From the economic effects of populism to the idea of basic universal income, a wide variety of material is set for debate this weekend among some of the world’s greatest academics, professionals, and politicians,
James Robinson, a professor at the University of Chicago, conducted the first lecture following Boeri’s inauguration address. Focusing on the effects populism has on political institutions, Robinson pinpointed various examples of populist behaviors in history. His discussion also explained the varying viewpoints of the people versus the elite and how it sets the stage for populism’s emergence.
At 5pm, two of the Festival’s biggest attendees, Italian Minister of Economy Giovanni Tria and former chief economist of the IMF Olivier Blanchard, addressed a fully packed and tense Teatro Sociale. Offering explanation on Italy’s plans to change its economy in order to cut the public deficit, Tria was direct with the audience. The two also discussed the future of austerity, financial independence and authority, and investment. Blanchard, at times both agreeing and disagreeing with some of Tria’s points, emphasized above all the role investors play in economies. According to the former IMF executive, governments must always sustain their economies in a way that makes investors feel the most comfortable so that they don’t flee.
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