Impact of Fascist Economic Policies on Industry Flashcards
What were Mussolini’s main priorities whihc lay elsewhere than economics?
- Securing power
- transforming the population into loyal Fascists
- transforming Italy into a strong military power
What are the three criteria to evaluate the success of Mussolini’s economic policies?
- how far econ pols helped achieve wider aims,
- impact on the Italian economy and standard of living,
- and how well the econ pols coped with broader events like the Great Depression.
In the early years he pursued
…………policies that would secure his position (under De Stefani).
liberal
Who was appointed as Minister of Finance by Mussolini to win over the industrial elite?
Alberto De’Stefani
What economic improvements were seen between 1921 and 1924?
- Improvement in manufacturing production and an upturn in exports.
How did government debt change from 1922 to 1925?
Fell from 74.8% of GDP to 50.6% of GDP
What groups were unhappy about the reduction in tariffs?
Agricultural groups
how did industrialists react to Mussolini’s traditional economic policy
They were happy and supported Mussolini.
What happened to Italian exports between 1922 and 1925?
- Exports of cars, textiles, and agricultural products doubled.
How did De’stefani’s policies follow economic liberalisation
De’Stefani focused on reducing government interference in the economy e.g. he privatised the telephone sector and cut protective tariffs
What was outlawed under the Vidoni Pact in 1925?
Socialist trade unions and strikes
Why was Mussolini not considered an economist?
A: He had little interest in or understanding of economics.
What economic shift occurred in the mid-1930s for Mussolini?
Focus on economic transformation due to the War in Ethiopia and association with Nazi Germany
What old problems did Mussolini ignore in favor of his principal aims of autarky & corporate state?
‘old problems’ –>Industrial underdevelopment, rural poverty, the north-south divide, and illiteracy.
OVERALL, THE CORPORATIONS DID NOT…..
ACHIEVE THE PIVOTAL ROLE THEY WERE SUPPOSED TO PLAY IN THE STATE AND THE ECONOMY
How were industrialists appeased during Mussolini’s regime?
- By outlawing Socialist and Catholic trade unions during the Vidoni Pact (1925)
What was the purpose of the revaluation of the lira according to Mussolini?
- It was for propaganda purposes to make the Italian economy appear stronger and demonstrate Mussolini’s power and prestige.
What negative impact did the revaluation of the lira have on Italian export industries?
- It made Italian products much more expensive for foreign buyers,
- leading to a depression in Italian export industries, particularly textiles
What happened to unemployment in Italy between 1926 and 1928
unemployment trebled
What did Mussolini do to prevent imports of foods and other products from becoming cheaper for Italian consumers
- He placed high tariffs on many foreign imports
When was the battle for Lira launched
- Augsut 1926
why was the battle for lir launched
- to revalue the lira after it had fallen against the British pound since 1922
What was the exchange rate of the lira to the British pound by 1926?
150 lira to the British pound
What were the new exchange rates set for the lira in December 1927?
- 19 lira to the American dollar
- & 92.46 lira to the British pound