Constitution of Innovation | A Launch Event for a New Manifesto

Описание: The new manifesto proposes a forward-looking roadmap to strengthen Europe’s competitiveness through a renewed approach to economic governance. Co-authored by Professor Luis Garicano (London School of Economics), Professor Nicolas Petit (European University Institute), and Nobel Laureate Professor Bengt Holmström (Massachusetts Institute of Technology), the manifesto addresses Europe’s growing innovation gap and the structural challenges facing the Single Market.

“The constitution of innovation reminds us that innovation is not only about new technology and startups; it is about the rules of the game. [It's about] the way we design markets, the way we manage fermentation, and the way we uphold legal certainty and long-term prosperity” said Johanna Mair, Director of the Florence STG, in her opening remarks. She added: “This is exactly the kind of debates the STG is excited to host. Our school is a place where policymakers, scholars, and practitioners come together to test ideas, to challenge assumptions, and to build bridges between analysis and actions on issues that will be truly consequential in Europe's future.”

Against the backdrop of concerns highlighted in the Draghi Report, The Constitution of Innovation argues that regulatory fragmentation is undermining the effectiveness of the Single Market and constraining Europe’s ability to innovate and scale. The manifesto advances a “federal” vision for Europe to do less, but better, refocusing EU action on its core mission of economic integration and long-term prosperity.

Presenting the manifesto, the authors stressed the urgency of restoring Europe’s growth capacity. As Luis Garicano noted: “Europe has a serious problem, and the problem is basically we don't have the growth to afford a welfare state. We are not going to afford to be able to afford the increasing pension obligations and health obligations for all the population.”

The panel discussion, moderated by Fabrizio Tassinari, Executive Director of the Florence STG, brought together perspectives from policymakers, industry leaders, and academics. Contributions included EUI Professor George Papaconstantinou, Lucia Aleotti from the Menarini Group, and Dario Nardella, Member of the European Parliament and former Mayor of Florence, who called for a shift in Europe’s regulatory culture: “If we have challenges, if we have issues, we need to use the existing rules. Because we have enough rules. And more legislation does not automatically mean more integration.”

Additional remarks were provided by Erkki Liikanen (IFRS Foundation; Chairman of the Board, Helsinki Graduate School of Economics) and Policy Leader Fellow Polyanna Cintra Monteiro. The event concluded with a vivid exchange with the audience.