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Antonio, an unemployed man in the depressed post-WWII economy of Italy, at last finds a good job hanging up posters, the only requirement for which is that he must have his own bicycle. When Antonio’s bicycle is stolen, he and his son are forced to walk the streets of Rome in search of it, or else face ruin.
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Best friends Peppe and Mario are thieves, but they're not very good at it. Still, Peppe thinks that he's finally devised a master heist that will make them rich. With the help of some fellow criminals, he plans to dig a tunnel from a rented apartment to the pawnshop next door, where they can rob the safe. But his plan is far from foolproof, and the fact that no one in the group has any experience digging tunnels proves to be the least of their problems.
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When elderly pensioner Umberto Domenico Ferrari returns to his boarding house from a protest calling for a hike in old-age pensions, his landlady demands her 15,000-lire rent by the end of the month or he and his small dog will be turned out onto the street. Unable to get the money in time, Umberto fakes illness to get sent to a hospital, giving his beloved dog to the landlady's pregnant and abandoned maid for temporary safekeeping.