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"Work, in all its intellectual, technical, and manual forms, is a social obligation. To this end, and only to this end, it is safeguarded by the State. The totality of production is unitary from the national point of view; its objectives are unitary and comprise the well-being of the producers and the development of national strength." Article 3:
This action produced a sharp recession, which Mussolini took up as a sign of his assertion of power over "troublesome elements"—a slap to both capitalist speculators and trade unions. On a wider scale, the Fascist economic policy pushed the country towards the corporative state, an effort that lasted well into the war.
In 1934, Mussolini boasted that three-quarters of Italian businesses "is in the hands of the state". [85] [86] Various banking and industrial companies were financially supported by the state. One of Mussolini's first acts was indeed to fund the metallurgical trust Ansaldo to the height of 400 million Liras.
De Felice argued that Mussolini was a revolutionary modernizer in domestic issues, but a pragmatist in foreign policy who continued the Realpolitik policies of liberal Italy (1861–1922). [143] In the 1990s, a cultural turn began with studies that examined the issue of popular reception and acceptance of Fascism using the perspectives of ...
The National Fascist Party of Benito Mussolini came to power in Italy in 1922, at the end of a period of social unrest. During the first four years of the new regime, from 1922 to 1925, the Fascist had a generally laissez-faire economic policy: they initially reduced taxes, regulations and trade restrictions on the whole. [40]
During this period, Mussolini identified his economic policies with "state capitalism" and "state socialism", which later was described as "economic dirigisme", an economic system where the state has the power to direct economic production and allocation of resources. [143]
The Chamber of Fasces and Corporations shared the legislative powers with the Government and the Royal Senate. The only bills that were actually discussed by the plenary assembly, both in the Chamber and in the Senate, were the ones regarding constitutional amendments, legislative delegation and budget laws; the other bills were directly examined an
The Fascist regime led by Benito Mussolini, fearing a credit crunch with subsequent mass dismissals and a wave of social unrest, started to take over the banks' stakes in large industrial companies (such as steel, weapons and chemicals). At the same time, Mussolini tried to inject capital into failing businesses (Though restructured later).