The discipline of economics occupies a central role in the social sciences. Its conclusions are a key reference in public discussions. From a theoretical point of view, however, the foundations of the discipline appear far from being unambiguously established. Its basic prescriptions rest on assumptions which still deserve to be more fully understood and explicitly discussed. The MGTA initiative attempts at reexamining a very classic theme in economic thought, the tension between markets and governments, from the perspective of contemporary economic theory.

This year's summer school will focus on power.

While power is abstracted away in the fictional world of perfectly competitive markets, asymmetric bargaining power, market power, and political power are pervasive phenomena in actual economies. Market outcomes are shaped by power inequalities, with both distributive and efficiency implications. For instance, the market power of firms affects how much consumers have to pay for goods and services and how much money the recipients of capital income can make. But it also affects, dynamically, technological progress and growth: market power may stifle innovation.

Government interventions may be required to redress major power imbalances but policies themselves are not designed in a vacuum as government decisions are affected by powerful actors in the political sphere, as well as by (powerful) vested interests. But power may matter, normatively, beyond its effect on efficiency and distribution: major power imbalances between economic actors may be disputable per se, as they undermine fundamental relational values. Thus, a focus on power provides an interesting counterpoint to the distributive focus that dominates normative analyses in economics.

This year's summer school will discuss the notion of power in its many dimensions, focusing on ways to conceptualise (and model) power in economics, the effects of power in goods markets and in the labour market, the normative implications of power asymmetries, the gendered dimension of power, possible interventions to mitigate unequal distributions of power.

The school aims at offering a critical review of all these issues. We will alternate traditional lectures by academics who have contributed to different areas of contemporary economic theory, with discussions around the presentation of recently published texts. In particular, the school aims to provide an opportunity to contrast contemporary economic theory with recent developments in political philosophy.

The school is organized over three days at Villa Mondragone, in Monteporzio Catone.

Preliminary Programme

JUNE 18th

• 9:15h-9:45h: Wake-up Coffee 
• 9:45h -10:00h: Welcome
• 10:00h-11:30h: H. Moulin (University of Glasgow)
• 11:30h-11:50h: Coffee break
• 11:50h-13:20h: C. Bayer (University of Bonn)
• 13:20h-15:15h: Lunch
• 15:15h-16:45h: A. Rubinstein (New York University)
  
  • Book “No Prices No Games! Four Economic Models"

JUNE 19th

JUNE 20th

In what follows you can find useful indications to reach Villa Mondragone

Directions 

Fiumicino Airport  
From Fiumicino airport take the fast train (LEONARDO EXPRESS) to Termini railway station (departures every 30 minutes, first departure at 06:35, last departure at 23:35, ticket 9,50 €.
A taxi to reach Rome should cost around 40,00/60,00 €.
Frascati downtown can be conveniently reached from Termini central railway station by train. Trains nearly every hour; journey takes about 40 minutes. Tickets are available at the Station and cost 1,70 €.

Ciampino Airport  
The following bus and train services are available from Ciampino:
• the Terravision bus (Roma Termini central station - Roma Ciampino airport )
• the Cotral/Schiaffini bus nightly connections (Roma Termini central station - Roma Ciampino airport )
• the subway + the Cotral/Schiaffini bus (Line A, Anagnina station - Roma Ciampino airport )
• the train + the Cotral/Schiaffini bus (Ciampino railway station - Roma Ciampino airport)
Back

From Termini Railway Station  
Take the underground "A" to the final stop Anagnina (ticket 1 €).
From ANAGNINA underground "A" final stop catch a blue COTRAL bus direction Rocca Priora (bus-shelter n.° 6) to Monteporzio Catone and get off at the Villa Mondragone.
Frascati downtown can be conveniently reached from Termini central railway station by train. Trains nearly every hour; journey takes about 40 minutes. Tickets are available at the Station and cost 1,70 €.

By Car or Taxi/Uber
From highway A1 Milano - Napoli or from highway A24 Roma - L'Aquila/Pescara: follow direction Roma Sud, exit Monte Porzio Catone, then follow signs to Villa Mondragone and Hotel Villa Vecchia (follow the road signs for Frascati).
From downtown Rome:
take the G.R.A. (Grande Raccordo Anulare, the ring highway around Rome) to the highway A1 Roma - Napoli, then exit Monte Porzio Catone. Follow signs to Villa Mondragone and Hotel Villa Vecchia.

Accommodations

Below are some of the hotels in convention with Tor Vergata University in Frascati

• Hotel Flora, Viale Vittorio Veneto, 8, Frascati (Rome)
  
• Hotel Colonna, Piazza del Gesù, 12, Frascati (Rome)
  
• Hotel Villa Mercede, Via Tuscolana, 20, Frascati (Rome)
• Hotel Villa Vecchia, Via Frascati, 49, Frascati (Rome)
• Residence Frascati, Via Carlo Lucidi, 2, Frascati (Rome)
• Antica Terrazza Frascati, Via Garibaldi, 1, Frascati (Rome)

Scientific Organisers

CNRS-TSE and University of Rome Tor Vergata

Andrea Attar

Köln Universität

Felix Bierbrauer

Queen Mary University of London

Roberto Veneziani

Local Organisers

University of Rome Tor Vergata

Eloisa Campioni

University of Rome Tor Vergata

Andrea Piano Mortari

University of Rome Tor Vergata

Guillaume Pommey

Contacts

Summer School: “Markets and Governments: a Theoretical Appraisal”
c/o Villa Mondragone, Monte Porzio Catone (Rome) Italy

phone: +39 06 7259 5601 
e-mail: MGTA@ceistorvergata.it