In the public debate played out in the media, the financial crisis in Italy is often depicted through a culturalist frame; the country’s difficulties are traced deterministically to an ethos, supposedly widespread among Italians, of amoral familism and a limited sense of civic engagement. This paper illustrates three issues that exemplify the country’s financial problems, and which are often seen through this type of culturalist lens: i) a lack of discipline in managing public finances; ii) a lack of interest in co-operation caused by the excessive importance given to family ties; iii) a lack of agency from the people involved, symbolised by a reluctance to leave home and to adopt an intense pace of work. Considering the relevant literature and various statistics, we show that a culturalist approach helps to spread a stereotyped and misleading view of these three issues. Instead, we suggest that a more accurate reading of the situation, and more stimulating when it comes to public debate, can be obtained by observing the way individuals adapt to the limitations and opportunities of the context in which they operate.