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Italy > Fascist Economic Policy > Flashcards

Fascist Economic Policy Flashcards

1
Q

What was the economic policy Fascists originally followed?

A

Liberal economics (1922-26)

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2
Q

First fascist economic minister

A

de Stefani

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3
Q

What did de Stefani try to do to Italy’s budget deficit?

A

try to tackle it via Liberal economics

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4
Q

Policies implemented under Fascism’s initial economic policy of Liberal economics

A
  • cuts in public spending
  • reduced taxation (encourage business)
  • deregulation
  • privatised government owned companies
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5
Q

Was de Stefani’s economic policy a success?

A

Mixed success

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6
Q

Did debt shrink under de Stefani - what happened to debt?

A

shrunk from 75% of GDP (1922)

to 50.6% of GDP (1935)

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7
Q

What happened to industrial production under de Stefani?

A

Up 57% (1922-25)

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8
Q

What was a limitation of the Fascists initial years economically?

A

Poor 1924 harvest created inflation

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9
Q

When was the Ministry of Corporations set up?

A

1926

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10
Q

Who was the Ministry of Corporations led by?

A

Bottai

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11
Q

What was the MoC an attempt for the state to do?

A

extend control over the economy

bring state, workers and managers together to increase efficiency and productivity

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12
Q

What was the idea of the corporate state?

A

corporations set up for each industry sector

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13
Q

Who was the head of the Fascist trade union movement?

A

Rossoni

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14
Q

Which organisation was determined to have businessmen keep control of industry?

A

Confindustria

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15
Q

How many corporations by 1934?

A

22

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16
Q

By when were there 22 corporations set up?

A

1934

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17
Q

Who wrote a “labour charter” that set out the rights of workers?

A

Bottai

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18
Q

Why were workers still repressed under the corporate state?

A
  • can’t chose representatives
  • workers representatives often side w employers over key issues
  • Bottai’s regulations to corporations from state only advisory - still maintain independence
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19
Q

What development for workers was there under the corporate state?

A

sick pay and paid national holidays (1938)

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20
Q

Unemployment in 1928

A

under 0.5million

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21
Q

Unemployment in 1935

A

2million

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22
Q

What X3 things did the fascist state do in reaction to the depression?

A
  • introduce public works schemes
  • bail out banks
  • creation of IRI in 1933
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23
Q

What is the IRI (1933)

A

Institute for Industrial Reconstruction

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24
Q

What did the IRI do and mean for the state?

A

Assisted with bailouts

So state essentially became shareholder in many companies

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25
Q

When was the battle for grain introduced?

A

1925

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26
Q

What did the battle of grain give farmers?

A

grants to buy machinery / fertiliser

guaranteed high prices

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27
Q

Was the battle for grain a success?

A

Yes - increase in grain production

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28
Q

In 1925 what % of imports were grain

A

50%

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29
Q

Within 10yrs what were grain imports down by from 1925 levels?

A

75%

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30
Q

In the 1930s how many tonnes of grain was Italy producing annually

A

7million tonnes

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31
Q

In the 1920s how many tonnes of grain was Italy producing annually

A

5.5million tonnes

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32
Q

How many more tonnes of grain was Italy producing in 1930s from 1920s

A

2.5million tonnes

33
Q

What limitation was there in the battle for grain?

A

Italian citrus farmers convert to grain

= decrease in citrus export income

34
Q

Mussolini criticised for not tackling poverty of the south - give X3 pieces of evidence for this

A
  • only visits Sicily once after 1924
  • 0.5million people leave rural areas 1920-30
  • population of Rome X2
35
Q

Battle for the Lira - when was it introduced?

A

Dec 1927

36
Q

What revaluation was the lira to the pound in December 1927

A

90 to the £

37
Q

Who benefitted greatly from the revaluation of the Lira and battle for the lira

A

Steel / rearmament / shipbuilding who could buy tariff-free imported raw materials

38
Q

What did the revaluation of the lira mean for Italy’s exports

A

Uncompetitive

export industries e.g textiles go into depression

39
Q

What happened to employment 1926-28?

A

X3 increase

40
Q

Did consumers receive benefits from the revaluation of the lira?

A

Not as much

don’t benefit on cheap imports since high tariffs placed

41
Q

When was the policy of autarky in place

A

1935-43

42
Q

Why was autarky first introduced?

A

form of protection against any LoN sanctions after Italy invaded Abyssinia

43
Q

What % of shipbuilding state controlled under autarky policy

A

80%

44
Q

What new material replaced imported synthetics?

A

e.g Lanital

45
Q

What % of oil needs were met under autarky policy?

A

1/4

46
Q

What % of total goods needed did Italy produce w policy of autarky?

A

20%

47
Q

Why did the government not increase taxes in 1930s? What did this lead to?

A

To maintain popularity

Massive government deficits

48
Q

Despite a decline in unemployment what was the average annual GDP growth 1922-38?

A

1.9%

49
Q

When did average annual GDP growth increase 1.9%

A

1922-38

50
Q

in the 1930s what was Italy unemployment compared to German

A

15% compared to Germany’s 30%

51
Q

What were examples of the public works schemes to tackle unemployment?

A

reclamation of land at Pontine Marshes

motorway construction

hydroelectric

52
Q

What happened to arms spending 1935-36

A

doubled

7mil to 14mil lira

53
Q

What evidence is there for Italy’s economy not being ready for war

A

had to have Germany’s economic aid during WWI

54
Q

Evidence for Mussolini having no faith in corporatism

A

Didn’t use corporations to stimulate economy during depression

55
Q

Why did Mussolini think the economy being difficult may benefit italy

A

create tougher Italians

dismiss bourgeois lifestyle

56
Q

What did standard of living decline for working class (1925-38)

A

11%

57
Q

What did real wages decline (1925-38)

A

10%

58
Q

What happened to land prices during the battle for grain?

A

land dropped 40-50% in price every 5yrs

59
Q

What did standard of living decline for peasants? (1922-30)

A

40%

60
Q

Where was there still job growth within the state even when unemployment high?

A

Ministry of Corporations and Dopolavoro

61
Q

How many km of railway line were electrified under Mussolini

A

5000km

62
Q

In what year did the government achieve a budget surplus?

A

1924

63
Q

By what % was industrial production up between 1922-25?

A

57%

64
Q

What did Liberal economic policies coincide with internationally and domestically?

A

European economic recovery (boosts exports)

Decline of Italian socialist left

65
Q

Who replaced Stefani in 1925

A

Volpi

66
Q

When was Volpi appointed finance minister

A

1925

67
Q

What was Volpi’s background? What did this show about Mussolini?

A

industrialist and banker

shows Mussolini wanted good relations with big business

68
Q

When was the Bank of Italy nationalised?

A

1936

69
Q

What type of economic policy did Volpi follow

A

deflationary and protectionist policies

70
Q

Who backed state intervention in the economy, Volpi or Stefani?

A

Volpi

71
Q

What was happening economically 1925-26?

A

rising inflation - falling value of lira

72
Q

When was a system of unemployment benefit, sick pay and pensions introduced

A

1933

73
Q

proportion of state spending on social security in late 1930s

A

20%

74
Q

1936 import level decline since 1929

A

1/2

75
Q

wage cuts for state employees due to great depression

A

12%

76
Q

wage cuts for farm workers due to great depression

A

25%

77
Q

Why was Mussolini continuing to stay with gold standard until 1936 damaging

A

overvalued the lira currency

78
Q

Until when did Mussolini stay on the gold standard

A

1936

79
Q

Public works investment provided how many new jobs between 1929-34?

A

240,000

Italy (14 decks)

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