Italy economy Flashcards
who was minster of finance in 1922?
de stefani he had laissez faire economy
minimum interference in economy
he was removed in 1925
who was minister of finance in 1925?
giuseppe volpi 1925 they were becoming more dominanted by mussolini and teh fascist,
mussolini decided tahthe wantedt to achive more conomic independence from countries
initial policy to achieve this was the battle for lira
what year was the batlle for lira?
1926 august
wht happened with teh battle of lira?
mussolini believed that the lira represented the stranghth of teh regime
he declared taht the reavaluation of the lira was a battle that had to be one by sacrifices of the italian nation.
dec 1917 lira artifically fixed at 19 to the american dollar and 92.46 sterling.
this was meant to represnet the will of il duc and his power to uphold economy
consequences of battle of lira
had considerable costs government forced to introduce a range deflationary measure massive price reductions and cuts to workers wages.
export industry the man losers as the policy overvalued italian products in overseas markets
was teh first example of the economy hsifting towards ag reater focus on polciies that would represnet Mmussolinis power and stength
what was the corporate state?
it grew from the failure of teh Rocco law 1926 balance the intrets of synictaes nad italian industry
within it had the minsitry of coprorations made up of union worker and employers who work and discuss economics
charter of labour
national council of corporations 1930
on aper it looked like a compex government in reality it was propagada
provided jobs fro loyal fascists
what happened to italain economy during the great depression ?
stock and shares declined by more than 35% manufacturing 14% mussolini ordered more state intervetion to try solve the problems.
what did mussolini do to the banks that were struggling due to industry not making enough money to pay back business loans?
the IMI policy enabled banks that had loans to italian businesses would not collapse, providing credit to banks
IRI was another polciy which
what did Mussolini do businees close to go under
cut wokers wages 12% nov 1930 and encouraged price fixing and cartelisation.
what did mussolini do with the value of the lira falling ?
strengthened teh currency control and import licencing system boostedd istalys export industry devauling lira oct 1936
unemployement had increased from 300,000 to 1 million what did M do?
merging made unemployement levels quite stable as large mergers mean that fewer businesses were forced to close.
public works schemes such as road building, house construction
road building funding doubled between 1929 and 33
5,00 kilomteres of railway electrified
what was autarky ?
the quest for economic self-suficiency driven by 3 factors:
decline in trade
sanction slaced on italy sue to action in arica
preparation for war
methods of achieving autarky by m?
ensuing taht imports and exports matche dthe same value
thsi ensured that italy could minimise and cotrol imports
streghtned foreign currency and import licensing systemand boosted italys exporst by devauing lira
IRI system took over private firms iron and steel sector made responsible for improving self-sufficiencyby finding raw materials or providing synthetic substitutes
how mcuh did the governemnt spend on autarky measures?
doubled from 30 billion lirein 1934 o 60 million by 1938
but achieving it by 1940 was debatable
what year was the battle for births?
1927 may
