Economy fuck off pls Flashcards
what was the battle for land?
fascists had promised prosperity and land to farmers who gave support to fascism
M promised to ruralise Italy
aim was to get more land to grow more crops
what land law allowed for reclamation of land?
‘Mussolini Law’ of 1928
promised huge sums of money to farmers who gave land
HOWEVER
if land owners did not obey to this their land was confiscated
what were the successes of the battle for Land?
- Pontine marshes were drained and became a tourist attraction
- draining the marshes reduced malaria by 50%
- reclaiming land stimulated the economy after the wall street crash
- Bonfica Integrale encourged city to rural migration
what were the failures of the battle for Land?
- peasants were not gaining off of this, the landlords were
- only 58% of land was reclaimed
- only 3 irrigation schemes were completed
- RUM was happening
- Italy was 18th in Europe for calorie intake (lowest numbers in the south of Italy)
how many Italians moved to Rome from the rural?
500,000
doubled Rome’s population
what was the battle for lira?
M wanted the Lira to be the strongest currency in the world
he hoped that he could stimulate Italian industry by investment and autarky
what was Quota Novanta?
in 1927 M wanted to have £1 = 90 lire
this was a lot for Italian industry to take so there were big cuts in wages and a decrease in standard of living
many companies had to form mergers to survive
what were the successses of the battle for Lira?
- imports were a lot cheaper which benfitted the steel, chemicals and shipping industry
- big propaganda success which enhanced M’s prestige
what was the effect of the great depression on Italy?
employment rose from 300,000 to 1 million
wages fell so govt spending became 4 times higher
what was cartelisation?
the creation of big conglomerates through mergers and takeovers of smaller businesses
made compulsory in 1936
what was the IMI?
protected Italian banks from collapsing by giving loan of 5.5 billion lire
helpt banks from going into bankruptcy
what was the IRI?
lent money to Italian companies like Ansaldo
IRI would take control of any bank owned companies
what were the successes of dealing with the depression?
- by 1939 the govt owned the majority of companies (mainly shipbuilding and pig iron)
- cushioned Italian economy to the fall of the depression by ensuring companies stayed afloat
- Roosevelt’s ‘new deal’ was similar and M used this as propaganda
what was autarky?
policy of self sufficiency
why did M adopt Autarky?
- general decline in Italian overseas trade due to great depression
- M needed a way to survive with the economic sanctions set due to Abyssinia
- preparation for WW2
