How Italy’s ‘American Dream’ tourned sour

The chapter examines how changes in three major areas – demographic trends, labour market regulation, society and welfare (education, gender,social policies) – have affected the various key life cycle stages. In order to account for the deep sentiment of insecurity pervading Italian households in the new century, the key life stage changes have to be analysed through their interaction within the family: young cohorts exiting school with their great expectations turning sour (second and third section), their parents staring helplessly as their children’s career perspectives take a turn for the worse (fourth section) and all facing up to a gloomy retirement age (fifth section).