International Economics Festival 2026

The International Economics Festival 2026 (Festival Internazionale dell'Economia) is the fifth edition of Turin's event devoted to economic topics, held from 22 to 25 October under the title «Saving the welfare state» («Salvare lo Stato sociale»). The programme offered more than 130 events on the future of European welfare, covering an ageing population, new defence-spending needs linked to ongoing international conflicts, and the investment required for climate change ^[1].

Guests and scientific direction

Four Nobel laureates in Economics took part in the event: David Card (2021 Nobel), James A. Robinson (2024 Nobel), Joel Mokyr (2025 Nobel, together with Philippe Aghion and Peter Howitt) and Alvin Roth (2012 Nobel). The Festival's scientific director is Tito Boeri, who discussed the future of European welfare with them ^[1].

Joel Mokyr raised the question of whether the welfare state is sustainable in its current form, observing: «If welfare were to fail, what we saw in Paris last week would be child's play» ^[1]. James A. Robinson stressed the political dimension of the problem, saying it is not enough to say the costs cannot be paid, but that an idea is needed to convince people of the need for change in order to preserve the gains of the European social contract ^[1]. David Card urged looking at welfare as a whole, from education to healthcare, from pensions to support for the poorest, as a system that also rests on citizens' trust ^[1]. Alvin Roth noted that markets need social consensus, which politics also helps generate ^[1]. Tito Boeri proposed treating welfare as a long-term investment in young people, increasing trust in the state and improving the efficiency of public administration without waiting for sweeping reforms ^[1].

Themes and discussions

Topics addressed during the Festival included social mobility, the taxation of multinational companies and the role of immigration in welfare policy. A session devoted to the latter topic brought together Turin's mayor Stefano Lo Russo, former mayor Sergio Chiamparino, the secretary general of the Compagnia di San Paolo Foundation Alberto Anfossi, and economist Tommaso Frattini, discussing the evolution of reception and integration policies and their consequences for social and urban cohesion ^[1].

The state of Italian welfare

The Festival's theme was accompanied by data on the sustainability of Italy's welfare system. According to ISTAT demographic projections, in the median scenario the share of people over 65 will rise from 24.7% at the start of 2025 to 34.5% in 2050, while the working-age population (15-64) will fall over the same period from 63.4% to 55.3% ^[2]. According to Eurostat, in 2023 Italian pension spending absorbed about 15.5% of GDP, against a European average of 12.3% ^[2]. The State General Accounting Office (Ragioneria Generale dello Stato) notes that reforms already adopted contribute to the long-term sustainability of the pension system, even though it is a contribution-based system in which the pension amount depends on contributions paid over a working career ^[2].

Sources

1. «Welfare sotto pressione»: l’allarme dei Nobel a Torino — CronacaQui Torino, 25 October 2026
2. Salvare più del salvabile. Festival dell’Economia e stato sociale — Gazzetta Torino, 25 October 2026