Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/119862
Authors: 
Mattei, Clara Elisabetta
Year of Publication: 
2015
Series/Report no.: 
LEM Working Paper Series 2015/17
Abstract: 
The historical forerunners of contemporary austerity are still largely unexplored. This essay considers the "liberal phase" of Fascist Italy (1922-1925) as a case study to explain austerity as a full-blown rationality, that is intrinsically, and simultaneously, theory and practice, encompassing the moral, the economic and the political. My explanation moves beyond the interpretation of austerity as the post-1980, neoliberal recipe of price deflation and budget cuts. The Italian case draws attention to a neglected connection: that between austerity and repression. Austerity was the guiding principle of the Fascist economic agenda during the 1920s. It served to extinguish the effects of the democratization process of the post-WWI years. The paper examines the work of four distinguished economists, Maffeo Pantaleoni, Luigi Einaudi, Alberto De Stefani and Umberto Ricci, who - in different roles as professors, journalists, advisors, and policy-makers - can be considered the source, the guardians and the enforcers of Fascist austerity.
Subjects: 
Austerity
Repressive Politics
Economists as Consultants
Fascism
JEL: 
B41
N44
N14
B13
Document Type: 
Working Paper

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