Alberto De Stefani

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Alberto De Stefani (1879–1969) was an Italian politician and economist. Coming from a background in liberalism to Benito Mussolini's fascism, De Stefani was in charge of Italian economics from 1922 to 1925. His time in charge was characterized by laissez-faire ideals.

Benito Mussolini Duce and President of the Council of Ministers of Italy. Leader of the National Fascist Party and subsequent Republican Fascist Party

Benito Amilcare Andrea Mussolini was an Italian politician and journalist who was the leader of the National Fascist Party. He ruled Italy as Prime Minister from 1922 to 1943; he constitutionally led the country until 1925, when he dropped the pretense of democracy and established a dictatorship.

Laissez-faire is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies. The phrase laissez-faire is part of a larger French phrase and translates to "let (it/them) do", but in this context usually means "let go".

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Finance Ministry

De Stefani was appointed by Mussolini in 1922 as the finance minister. He was a liberal economist and a former stalwart leader in the Centre Party[ clarification needed ] [1] who favoured policies such as free-trade, lowering taxes without too much government interference and privatisation of businesses such as the communications industry. [2] He also undertook a thorough reform of the taxation system in Italy which was adjudged a success at the time, although it has been noted that the reforms he enacted had been laid out by his predecessor Filippo Meda but not enacted. [3] De Stefani took advantage of the dictatorial powers afforded to Mussolini's regime to enact these reforms, which had previously been blocked by parliament. [4]

Free trade policy in which countries governments do not restrict imports from, or exports to, other countries

Free trade is a trade policy that does not restrict imports or exports; it is the idea of the free market as applied to international trade. In government, free trade is predominately advocated by political parties that hold liberal economic positions, while economically left-wing and nationalist political parties generally support protectionism, the opposite of free trade.

Privatization can mean different things including moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatized; in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, and prison management.

The economy prospered under de Stefani's direction, as part of a Europe-wide growth. Both wages and the cost of living fell under his direction. [2] He accomplished his goal of a balanced budget for the financial year 1924–25. [5] By mid-1925, however, the economy was heading towards crisis and Mussolini dismissed de Stefani, replacing him with the corporatist Giuseppe Volpi. [6]

Balanced budget Financial plan where revenues equal expenses

A balanced budget is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists. More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. A cyclically balanced budget is a budget that is not necessarily balanced year-to-year, but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time.

Corporatism political doctrine

Corporatism is a political ideology which advocates the organization of society by corporate groups, such as agricultural, labour, military, scientific, or guild associations on the basis of their common interests. The idea is that when each group performs its designated function, society will function harmoniously — like a human body (corpus) from which its name derives.

Giuseppe Volpi Italian businessman and politician

Giuseppe Volpi, 1st Count of Misurata was an Italian businessman and politician.

Later political career

Although removed from his position as minister de Stefani remained a member of the Grand Council of Fascism until the collapse of Mussolini's regime. [7] From this position de Stefani often criticised some of the actions of Mussolini's government. Although an economic liberal, he was socially conservative and in 1928 launched an attack on what he felt was the "abundantly liberal" legislation being passed on marriage, arguing that those who chose not to procreate should be denied the same legal rights as parents. [8] He would later become associated with a tendency that included fellow movement veterans Emilio De Bono, Italo Balbo and Luigi Federzoni that was highly critical of the introduction of Nazi Germany-influenced racial laws into Italy. [9]

Economic liberalism is an economic system organized on individual lines, which means the greatest possible number of economic decisions are made by individuals or households rather than by collective institutions or organizations. It includes a spectrum of different economic policies, such as freedom of movement, but its basis is on strong support for a market economy and private property in the means of production. Although economic liberals can also be supportive of government regulation to a certain degree, they tend to oppose government intervention in the free market when it inhibits free trade and open competition.

Social conservatism is the belief that society is built upon a fragile network of relationships which need to be upheld through duty, traditional values and established institutions. This can include moral issues. Social conservatism is generally skeptical of social change, and believes in maintaining the status quo concerning social issues such as family life, sexual relations, and patriotism.

Emilio De Bono Italian General

Emilio De Bono was an Italian General, fascist activist, Marshal, and member of the Fascist Grand Council. De Bono fought in the Italo-Turkish War, World War I, and the Second Italo-Abyssinian War.

Academic career

Away from politics, de Stefani served as a lecturer in economics at the Vicenza Institute of Technology. [10] He later was appointed a professor at the University of Rome. [11]

Vicenza Comune in Veneto, Italy

Vicenza is a city in northeastern Italy. It is in the Veneto region at the northern base of the Monte Berico, where it straddles the Bacchiglione River. Vicenza is approximately 60 kilometres (37 mi) west of Venice and 200 kilometres (120 mi) east of Milan.

Sapienza University of Rome Italian university founded in Rome in 1303

The Sapienza University of Rome, also called simply Sapienza or the University of Rome, is a collegiate research university located in Rome, Italy. Formally known as Università degli Studi di Roma "La Sapienza", it is one of the largest European universities by enrollments and one of the oldest in history, founded in 1303. The University is one of the most prestigious Italian universities, commonly ranking first in national rankings and in Southern Europe.

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Fascist syndicalism was a trade syndicate movement that rose out of the pre-World War II provenance of the revolutionary syndicalism movement led mostly by Edmondo Rossoni, Sergio Panunzio, A. O. Olivetti, Michele Bianchi, Alceste De Ambris, Paolo Orano, Massimo Rocca, and Guido Pighetti, under the influence of Georges Sorel, who was considered the “‘metaphysician’ of syndicalism.” The Fascist Syndicalists differed from other branches of syndicalism in that they generally favored class struggle, worker-controlled factories and hostility to industrialists, which lead historians to portray them as “leftist fascist idealists” who “differed radically from right fascists.” Generally considered one of the more radical Fascist syndicalists in Italy, Rossoni was the “leading exponent of fascist syndicalism.”, and sought to infuse nationalism with “class struggle.”

Kingdom of Italy under Fascism

Fascist Italy is the era of National Fascist Party government from 1922 to 1943 with Benito Mussolini as head of government of the Kingdom of Italy. The fascists imposed totalitarian rule and crushed the political and intellectual opposition, while promoting economic modernization, traditional social values and a rapprochement with the Roman Catholic Church. According to Payne (1996), "[the] Fascist government passed through several relatively distinct phases". The first phase (1923–1925) was nominally a continuation of the parliamentary system, albeit with a "legally-organized executive dictatorship". Then came the second phase, "the construction of the Fascist dictatorship proper, from 1925 to 1929". The third phase, with less activism, was 1929 to 1934. The fourth phase, 1935–1940, was characterized by an aggressive foreign policy: war against Ethiopia, which was launched from Eritrea and Somaliland; confrontations with the League of Nations, leading to sanctions; growing economic autarky; and the signing of the Pact of Steel. The war itself (1940–1943) was the fifth phase with its disasters and defeats, while the rump Salò Government under German control was the final stage (1943–1945).

References

  1. Howard M. Sachar, The Assassination of Europe, 1918–1942: A Political History, Toronto: Canada, University of Toronto Press, 2015, p. 48
  2. 1 2 Nicholas Farrell, Mussolini: A New Life, Phoenix, 2004, p. 185
  3. Douglas J. Forsyth, The Crisis of Liberal Italy, Cambridge University Press, 2002, p. 75
  4. Forsyth, The Crisis of Liberal Italy, p. 272
  5. Vera Zamagni, The Economic History of Italy, 1860–1990, p. 244
  6. Farrell, Mussolini, p. 186
  7. Farrell, Mussolini, p. 391
  8. David G. Horn, Social Bodies: Science, Reproduction, and Italian Modernity, Princeton University Press, 1994, p. 91
  9. Nicola Caracciolo, Florette Rechnitz Koffler, Richard Koffler, Uncertain Refuge: Italy and the Jews During the Holocaust, University of Illinois Press, 1995, p. 144
  10. Jude Wanniski, The Way the World Works, Regnery Gateway, 1998, p. 134
  11. Paul B. Trescott, Jingji Xue: The History of the Introduction of Western Economic Ideas into China, 1850–1950, Chinese University Press, 2007, p. 96