Nobel economist David Card speaks at Turin Economy Festival

Nobel Prize winner David Card participated in the International Festival of Economics in Turin, an event focused on the theme of “Saving the Welfare State.” During his sessions, Card addressed the complexities of working poverty, emphasizing that poverty should be measured by a household's available income rather than just hourly wages.

Card highlighted that the intersection of public aid, employment levels, and family composition determines economic stability. He noted that even with adequate hourly pay, factors such as discontinuous work weeks, childcare costs, and rent can leave families below the poverty threshold. The festival, hosted in part at the Intesa Sanpaolo skyscraper, also featured discussions on the social role of banks involving banking executives Gian Maria Gros-Pietro and Pier Carlo Padoan.