Summer Reading, Top Picks from Our Professors

Summer reading does not have to be disengaged. It can be fun, exciting and captivating, introducing us to new things or showing a different perspective of those we already knew. Whether it is a novel, essay or more specialized text, a good read always leaves a mark, enriching both mind and spirit. So, whether spending summer vacation on a sunny beach, in the cool mountains or in a city of art – here in Italy or abroad – bringing something to read is always a good idea. What kind of books should you pack in your bags, though? We asked the University Heads of Department (Tito Boeri, Emanuele Borgonovo, Cesare Cavallini, Vincenzo Galasso, Miles Gietzmann, Stefano Rossi, Gaia Rubera, Marco Tortoriello and Riccardo Zecchina) who together have thus composed a small library, which combines the passions of each with the research themes that characterize their department.
Here are their recommendations:

Tito Boeri: Artificial intelligence, war and fiscal policy – three critical current topics
"It is like a river; we can change its orientation a bit, but we can't stop it," explains Tito Boeri, Head of the Economics Department, as he introduces his first reading pick, Power and Progress by Daron Acemoglu and Simon Johnson. "This is the authors' thesis on artificial intelligence and its continuous progress. It is a book that investigates our relationship with innovation and technological progress, with a rather pessimistic view." A book on economics, or rather on economists, is How Economics Can Save The World by Erik Angner. "The author explains how economists work and how economics, in a non-presumptuous way, can provide us with the necessary tools to solve today's main problems." Why We Fight: The Roots of War and the Paths to Peace by Christopher Blattman, is instead a dramatically timely book. "It is a book on the reasons for war, halfway between economics and political science that shows us," explains Boeri, "how the reasons that push peoples to fight each other are almost never strictly economic, but linked to the quality of the institutions and, above all, to the lack of counterweights, of checks and balances systems." The fourth book, The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale by John A. List, addresses a very important issue in the evaluation of economic policies. "The Voltage Effect explains how the ideas behind policies are generally thought of on a small scale and the question that must always be asked when evaluating them should be: is it possible to replicate them on a larger scale and generalize them, assuming that these policies succeed in achieving their objectives?" The last work recommended by Boeri is A Monetary and Fiscal History of the United States, 1961-2021 by Alan Blinder. "Focusing on the most significant developments and long-term changes, Blinder traces the ups and downs of monetary and fiscal policy in the United States – a nation that, over the past sixty years, has worked together and clashed in many recessions and several long booms." It is a thought-provoking book, straddling macroeconomics and economic history.

Emanuele Borgonovo: Mathematics and statistics to understand the world in a fun way
Did you know that mathematics was decisive in the Battle of the Atlantic, or that because of it it was possible to design the anchors? Or that with mathematics it was possible to cope with a cholera epidemic in Victorian Soho? "Thomas William Korner explains it in a fun way," says Emanuele Borgonovo, Head of the Decision Sciences Department, "in his The Pleasures of Counting, a very successful book in which the use of mathematics to solve practical problems of various types is well highlighted – at times trivial problems, and others of great importance in the history of humanity." Another book that Borgonovo recommends covers statistics and the importance of knowing how to interpret data. "The Art of Statistics by Sir David Spiegelhalter describes this important discipline in a pleasant way and the author, taking inspiration from real-world problems to introduce conceptual questions, shows us how statistics can help us determine things like the luckiest passenger of the Titanic, whether serial killer Harold Shipman could have been caught sooner, or whether screening for ovarian cancer is beneficial. It illuminates how we can use the growing amount of data to improve our understanding of the world." Value-Focused Thinking: A Path to Creative Decisionmaking by Ralph Keeney, on the other hand, examines how we generally prepare to make decisions, with a surprising result. "According to Keeney, the standard way of thinking about decisions is the other way around: people focus first on identifying alternatives rather than articulating values," Borgonovo says. "A problem arises and people react, emphasizing mechanical, fixed choices instead of the goals that give meaning to decision-making. In this book, Keeney shows how the recognition and articulation of core values can lead to the identification of decision-making opportunities and creation of better alternatives. The intent is to be proactive and select the most interesting decisions to think about before attempting any solution."

Cesare Cavallini: Three novels with jurists at the center
Three different books to be approached in different ways, yet all suitable for the summer – whether you are looking for some light reading or one that requires commitment. "The first work I want to mention," says Cesare Cavallini, Head of the Legal Studies Department, "is One L by Scott Turow, an autobiographical novel of the author's experience during his first year attending the oldest, largest and most reputable law school in the United States – Harvard Law School. It is a string of triumphs, losses and euphoria – of compulsive work and current-day competition familiar to law students all over the world. It is a compelling and, in a way, light read." It is very different from the demanding read, Il Giorno del Giudizio by Salvatore Satta, a sort of spiritual testament set in Sardinia "by," resumes Cavallini, "one of the greatest Italian jurists. This book should be read not only for the story it tells, but also for the language used, a very advanced Italian that is rare to come across." The third pick is another novel, and the work of a professor from the Legal Studies Department, Filippo Annunziata. "The reasons why one should read Obiter Dicta are many. Firstly, to rediscover Gino Gorla, one of the greatest masters of 20th century comparative law, as effectively written by Giuliano della Massara. Secondly, to question some fundamental and unresolved issues of historical-comparative studies, in particular the relationship between the great systems and effective role of jurisprudence in the evolution of European law. Last but not least, to reflect on the academic careers and rules that govern legal research and the path of young scholars, or future professors." Concludes Cavallini, "This is also a novel whose reading commitment constitutes a fair compromise of the two previous works."

Vincenzo Galasso: Is merit really the only possible criterion?
The criterion of merit, or meritocracy, certainly has many advantages for society, but it also comes with shortcomings and drawbacks, as philosopher Michael Sandel explains in his book, The Tyranny of Merit. "A meritocratic society certainly has two advantages," explains Vincenzo Galasso, Head of the Social and Political Sciences Department. "The first is efficiency, especially economic, since it allocates the most skilled people in the right places; the second is of justice, if you will, as it allows us to create a society in which other criteria, such as our connections, do not prevail. Everyone can therefore aspire to achieve the highest goals." However, all that glitters is not gold. "First of all, according to Sandel, being born with certain talents is completely random and not attributable to any merit," says Galasso, "and therefore merit is only one of the components. Others can be the time and place of birth; having been in the right place at the right time. Take for example a great footballer; one who earns millions for their skills with a soccer ball. Had they been born at a time when football did not exist, their gift would have been useless." In his book, however, Sandel also goes a step further, as Galasso recounts: "People who reach the top do not realize this component of chance and tend to be arrogant and contemptuous of those who do not achieve the same goals. Basically, according to this view, if a person fails to emerge, the responsibilities are theirs alone. In the US this is very true and has ended up creating a polarized world between rich and poor." So, in conclusion, meritocracy is a good criterion, for lack of better ones, but some aspects can become pernicious and determine an environment that is too competitive. "Meritocracy therefore ends up assuming a moral value that it does not have," concludes Galasso, "and this is a very interesting aspect. What Sandel fails to do, though, is point to alternatives."

Miles Gietzmann: What will the blockchain of the future look like?
Most people have heard of Blockchain and often believe it's something to do with cryptocurrencies. Blockchain is the data management engine that makes cryptos like Bitcoin and Ethereum possible, but it can in fact do far more. "Blockchain is a distributed ledger that can allow firms to share information simultaneously with suppliers and customers or originate non-fungible tokens that insure provenance and original ownership. These are only two of the many classes of distributed ledger systems that some firms are exploring," explains Miles Gietzmann, Director of the Department of Accounting at Bocconi. "In the Department here at Bocconi, rather than focusing upon high-risk crypto assets, we are about to start our 4th year of a (crypto-free) 'Blockchain Design and Use' course. For anyone in business today it's important to anticipate what could be the effects of Blockchain powered Web3 development on their business models whether it be insurance, asset custody, sales or other business. The book 'The Story of the Blockchain: A Beginner's Guide to the Technology That Nobody Understands' by Omid Malekan is a non-technical introduction to how the technology has been developed and gives the reader the possibility to understand how it may develop."
Looking beyond the world of accounting, Gietzmann also suggests reading 'Chip War: The Fight for the World's Most Critical Technology' by Chris Miller, winner of the Financial Times 2022 Business Book of the Year Award. "We need to take a long view of where technology is taking us and this is a great read on the global competition in the semiconductor sector – the importance of the development and production of computer chips, dominated until recently by the US and Asian countries (Taiwan in particular) but with Europe now trying to enter the fray, and the economic and geopolitical aspects behind it."

Stefano Rossi: Insurance science, financial history and scientific research including humanities to reflect on the past, present and future
"Thinking about some of the subjects we cover in the department along with my personal passions," says Stefano Rossi, Head of the Finance Department, "I would suggest three categories of reading; the first is on the topic of scientific research. The Undoing Project by Michael Lewis and Misbehaving: The Making of Behavioral Economics by Richard Thaler talk about the birth of behavioral finance, tracing the path of its founders Daniel Kahneman, Amos Tverski and Thaler himself, and tells the process of scientific discovery in finance. Also Recreation is Over, a novel by Dario Ferrari, tells the story of a humanities researcher and how research sometimes means finding what you don't expect." The second category is on the topic of insurance science, no longer an old and dusty subject but a rapidly evolving dynamic discipline. "I suggest Risky Business: Why Insurance Markets Fail and What to Do About It by Liran Einav, Amy Finkelstein and Ray Fisman, as well as Financial Economics of Insurance by Ralph S.J. Koijen and Motohiro Yogo. They provide a vision of the insurance that will come, seen from the perspective of finance applied to big data. The former is very conversational and suitable for everyone; the latter, however, is more rigorous and intended for university students." The third and last category is that of financial history. American Default: The Untold Story of FDR, the Supreme Court, and the Battle over Gold by Sebastian Edwards, tells a little-known but crucial story in American history – the sovereign debt default of 1933, "when President Roosevelt, grappling with the restrictive monetary policies of the central bank, in an attempt to pull the country out of the Depression, devalued the dollar against gold, instantly halving the value of all debt contracts. Today the US economy is so strong that no one believes it can default," says Rossi, "yet it is precisely what happened 90 years ago, and it is always good to refresh one's memory, even only to understand the risks of restrictive monetary policies too long over time."

Gaia Rubera: Words and technology to conquer the world
Economic and cultural power has always shifted westwards. From Mesopotamia to the US and, now but especially in the future, to China. "And it does," as explained in How Transformative Innovations Shaped the Rise of Nations: From Ancient Rome to Modern America by Gerard J. Tellis and Stav Rosenzweig, "by exploiting technological innovations." The first book recommended by Gaia Rubera, Head of the Marketing Department, traces the history of humanity in an original way. "All the peoples who at some time in history have replaced the previous civilization," says Rubera, "did so by generating technological innovation. Think, for example, of the Romans who built the first real roads and aqueducts using concrete. This innovation, in turn, fuels economic growth, national dominance and global leadership." The second work, also written by a marketing scholar, focuses on the use of words, as the title, Magic Words: What to Say to Get Your Way, written by Jonah Berger, points out: "What makes content persuasive? What words are used? In the book," says Gaia Rubera, "the typical tools of artificial intelligence are used to understand which words make the messages more convincing and why some words have a greater impact than others. Such words are better suited to changing minds, engaging the audience and driving action. This is what marketing has always done, following the famous adage "Content is king". But the book, thanks to a computational approach, shifts the focus from substance to form. The book also provides a set of tools and techniques to motivate teams, convince judges and obtain funding from investors."

Marco Tortoriello: With self-criticism and open-mindedness you reach the truth, even in management
"Management is a complex discipline and, not being an exact science like mathematics or physics, it sometimes lends itself to unreliable interpretations by self-styled 'gurus'. A read like this one, on the other hand, invites us to open our minds and sharpen our critical spirit, as well as question our beliefs. This is really important, and suitable for any time of year." The book recommended by Marco Tortoriello, Head of the Management and Technology Department, is Think Again by Adam Grant, and starts from a consideration that seems paradoxical. "The more people study, the more they increase their cultural baggage and the more they are convinced that they are always right, reaching a radicalization of their beliefs, which is the exact opposite of learning. Adam Grant in his book seems to want to tell us that learning to question one's opinions and open one's mind is a strategy that can help us achieve top positions at work and distinguish ourselves for our life wisdom." This is even more important in the age of social media, explains Tortoriello, "where anyone can express even the most bizarre of opinions and still find someone online who agrees with them. In everyday life too many of us prefer the comfort of conviction to the discomfort of doubt. We listen to opinions that make us feel good, instead of ideas that force us to engage in reflection. We see divergence of opinion as a threat to our ego, rather than an opportunity to learn." Thus negative feedback, which seems so scary, can become a lifeline. They should also be accepted critically. "In this book, Adam Grant uses simple language that is within everyone's reach, providing archetypes that perfectly represent our difficulties in placing ourselves from the point of view of our interlocutor in relational dynamics, as well as our resistance to change. We must be open-minded and critical of ourselves, ready to consider above all the data, which never lies. Think Again pushes us to consider this approach as the only one that can lead us to the truth."

Riccardo Zecchina: Scientific denial has made illustrious victims: the case of Galileo
"Galileo: And the Science Deniers by Mario Livio is the first work I would like to recommend," explains Riccardo Zecchina, Head of the Computing Sciences Department. "What distinguishes this book is its clear and brilliant depiction of Galileo's confrontation with the scientific denial of his time. Livio draws a parallel between the challenges faced by Galileo and modern-day issues where scientific evidence, such as that of climate change, has difficulty being accepted and becoming a driving force for policymakers.
"In addition," Zecchina continues, "the book sheds light on Galileo's academic life, illustrating how he strategically navigated the complexities of academia to focus on his research. Many academic colleagues will be pleased to know that this is a contemporary issue that has ancient roots."
"As a second read, however, I suggest Sustainable Energy - Without the Hot Air by David JC MacKay. It is useful for anyone interested in understanding the basics of energy consumption and sustainability. David JC MacKay, a sustainable energy physicist who was Chief Scientific Advisor to the UK Department of Energy and Climate Change, has produced an invaluable handbook that makes mathematical modelling of energy consumption accessible.
"The book, which can be read in modules," says Zecchina, "stands out for the emphasis placed on the use of numbers, and not adjectives, to understand the importance of energy. Through a wide range of examples, MacKay illustrates how to calculate the energy consumption of different human activities. This quantitative approach guides the reader in assessing the effectiveness of energy policies. This is not just a theoretical exploration, but a practical guide that can be useful for policymakers, educators and individuals to make informed decisions for a sustainable future."


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