The workshop will present the Joint Research Centre report “Capitalism, sustainability and democracy” which presents the optimisation of the relationship between those three pillars as the fundamental dynamic that will decide Europe’s future.
The report provides a relevant complement to the 2024 Draghi report, by proposing how to strengthen competitiveness and innovation while driving sustainability and ensuring social cohesion. The central theme is that the EU’s ability to help shape a new world order requires it to have both agency through economic and technological clout as well as a clear vision and narrative to guide action and inspire others.
While the triangular relationship between capitalism, sustainability and democracy has its tensions, it also brings opportunities for Europe - through reforms in governance, fostering innovation and renewing solidarity - to forge a path where capitalism complements sustainability and democracy.
If the EU revitalises innovation and maintains social legitimacy, it can protect its social market model from drifting into stagnation and political instability. Achieving this means building future-oriented infrastructure, smart public procurement and other demand-driven innovation, innovation-friendly regulations and integrated research and innovation systems, marshalling EU-strategic investment and taking into account the specificities of regions and cities.
With such reforms, Europe could prove Schumpeter wrong by showing that capitalism, sustainability and democracy, the distinctive pillars of the European model, can reinforce each other to ensure prosperity, security and well-being.
The workshop will address key questions such as : what level of governance are common challenges addressed most effectively? How can competences be allocated between EU Member States and the EU to ensure that the Union can effectively compete with China and the United States, respond to rapidly changing circumstances and defend itself while safeguarding functioning democracy and driving sustainability? How can unhelpful path dependencies be overcome more effectively?
The event will be held in English only, with no interpretation provided. The event will be web-streamed. The streaming link and the programme will be published shortly on the event page.
