When Lorenzo Fagnoni launched his Appartments Florence real estate management company, he was able to start on a patiently accumulated after-war heritage with his grandparents in the Tuscany capital. His partner Niccolò Degli Alessandri was for his part leaning against a much older fortune. The Alessandri indeed enriched themselves during the second half of the XIVe A century in the woolen industry and were maintained, from the Renaissance to the present day, among the large families of the city, leaders of the leading property coexisting with foreign investment funds arrived more recently.
“It was easier to get rich by working in the second half of the XXe century, which allowed my family to succeed and access substantial capital,, tells Lorenzo Fagnoni. But there are in Florence a certain concentration of heritage in some very old families whose surnames are found in the names of the streets and churches. »»
In an article published in 2021 in the Review of Economic Studies (“Intergenerational Mobility in the Very Long Run: Florence 1427-2011”), Italian economists Guglielmo Barone and Sauro Mocetti have demonstrated, thanks to a statistical method, the very long-term effects that the socio-economic status of the Renaissance Florentins for their descendants. Based on tax documents and the surnames that persist over the centuries, they can establish that the distant heirs of the representatives of the XV upper classese century were less exposed than the others at the risk of falling at the bottom of the social scale over a period of more than half a millennial.
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