Alessandro Volpi links Italy’s financialization to household hardship

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  Alessandro Volpi says financialization helps explain why Italian wages are stagnant, rents are rising and public services are worsening.

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  The University of Pisa contemporary history professor says household savings are increasingly directed into financial markets and funds.

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  He argues that returns sought by those funds can contribute to problems that savers hope to protect themselves from.

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  Volpi proposes turning Cassa Depositi e Prestiti into a fully public bank to channel savings into Italian businesses and public services.

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  He also says real-estate funds can remove homes from the market and push rents higher.

Who

Alessandro Volpi, a contemporary history professor at the University of Pisa.

What

Volpi links financialization to stagnant wages, rising rents and worsening public services, and suggests ways to direct savings toward the Italian economy.

When

The article was published on October 10, 2026. Volpi was due to speak at noon that day.

Where

The planned event was at the Fondazione Giangiacomo Feltrinelli in Milan.

Why

Volpi says savings are increasingly channelled into financial markets, while people turn to funds and insurance as public services and pensions become less dependable.

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