Reports
Reports and Studies
In-depth reports, research notes, comparative studies and strategic assessments.
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Multinational Taxation: Principles and Grey Areas
The global economy is built around companies whose operations cross borders, while their profits remain subject to national tax systems. Between transfer pricing, intellectual property, international tax treaties and the global minimum tax, multinational taxation exposes a fundam
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Power: Who Holds the World?
In the strait, the ship slows. On the bridge, the officers watch the vessels ahead. Containers rise above the deck in long, stacked rows. They carry automotive parts, electrical equipment, clothing, perhaps medicines. For those awaiting delivery, this crossing is one stage in a production schedule. For the crew, it is a navigation task. Yet almost the entire architecture of global power is already present around this ship.
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Europe: The End of the Age of Certainties
In Orvieto, the Palazzo del Capitano del Popolo has witnessed enough history to remain largely unmoved by the shifting currents of Italian politics. Yet on September 20, 2026, the scene unfolding inside it reached somewhat beyond Rome. Roberto Vannacci, founder of Futuro Nazionale, was looking towards Alternative für Deutschland. Its programme, he argued, was fairly similar to his own; the two movements had much in common and sat in the same group in the European Parliament.
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Capital: Those Who Finance the World
The global economy is usually described through those who produce. Companies manufacture, workers work, consumers spend, governments tax and invest, entrepreneurs innovate. We look at factories, technologies, markets, infrastructure and states because that is where economic activity becomes visible.
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The Geography of Ideologies: From Human Societies to Artificial Intelligence
Liberalism, conservatism, socialism, nationalism, religion, markets, equality, authority and sovereignty are not combined in the same way across human societies. Left and right continue to structure a large part of political competition, but they are not sufficient to map the world. Ideologies are shaped by history, institutions, religions, economic structures, social classes, generations and territories. As artificial intelligence systems become universal intermediaries between individuals and knowledge, this diversity raises a new question: how can machines be designed to be politically neutral in a world that has no universal political center of its own?
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The Economy Under Debt: States, Companies and Households in the Same System
Debt is usually described as an anomaly. Government debt becomes a concern when it crosses certain thresholds, corporate debt when it threatens solvency, household debt when repayments absorb an excessive share of income.
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A World Without a Centre
For several centuries, the international system almost always seemed to have a centre. It was not necessarily an uncontested centre, nor even a power capable of imposing its will everywhere. But somewhere there was a state, a group of powers or a set of institutions dominant enough to structure trade, establish part of the rules, secure major commercial routes, organise alliances and shape the contours of the international orde
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Power: What Still Makes a Great Country?
For centuries, the answer seemed almost self-evident. A great country was a large country, a populous country, one capable of raising armies, controlling trade routes and imposing its will beyond its borders. Power was measured in territory, soldiers and ships, then in tons of coal, factories, oil, missiles and gross domestic product.
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2050: The World Ahead
By 2050, demography, climate, technology and power will have redrawn the global landscape. This is not a prediction of a fixed future, but an examination of the forces already shaping the world ahead.
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Energy: What Still Keeps the World Running
Oil, gas, coal, nuclear power, renewables: behind the narrative of the energy transition lies a more complex reality. The world is rapidly transforming the way it produces energy, but it has not yet replaced the system that keeps it running. And as electricity moves to the center of the global economy, new dependencies are emerging.
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Demographics: the great shift
Some transformations arrive with a crash. Others derive their power precisely from their slowness. Demography belongs to the second category. It does not trigger a market collapse in a single day, bring down a government overnight or immediately set financial markets on edge. Yet decade after decade, it changes the size of economies, the composition of societies, the demands placed on states and, ultimately, the balance of power.
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The Arms Industry: An Engine of Developed Economies?
Long regarded as a peculiar sector — essential to sovereignty but peripheral to the ordinary economy — the defense industry is returning to the center of industrial policy. European rearmament, the war in Ukraine, tensions in Asia and the modernization of military arsenals are tu
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The International Monetary System: The Financial Architecture of the World
Behind every international payment, every sovereign debt issue, every foreign-exchange reserve and every financial crisis lies a global architecture that no single authority fully controls.