Britain pioneered austerity in 1920 and Mussolini’s Italy followed in 1922

Evidence

Austerity proved to be more than just wishful thinking on the part of the experts at the international conferences of Brussels and Genoa. Chapters 6 and 7 will investigate how these experts successfully implemented the international code of austerity. We will begin by looking at Britain, a country that pioneered austerity starting in 1920, then explore how, starting in 1922, Mussolini’s Italy painstakingly followed in those footsteps. Th at these dates are so close to the two international conferences (Brussels and Genoa) is telling of the rapid ascent of austerity across Europe. — Clara E. Mattei, The Capital Order, 820

Categorization

• XREF: connects to: Austerity was codified as economic policy at the 1920 Brussels conference. — Clara E. Mattei, Escape from Capitalism, 7; Austerity reversed postwar labor income gains in both Italy and Britain by 1929 — Clara E. Mattei, The Capital Order: How Economists…, 1486; Fascist Italy copied British sinking-fund methods to finance austerity — Clara E. Mattei, The Capital Order: How Economists…, 1714 (+13 more)

Broader Connections

• Fascist Italy copied British sinking-fund methods to finance austerity #expands (0.85) — Clara E. Mattei, The Capital Order, 1714
• British monetary austerity after 1920 produced an unhealthy quasi-equilibrium for a full decade #expands (0.85) — Clara E. Mattei, The Capital Order, 1731
• Austerity served as proof of creditworthiness to international finance for the Fascist regime #expands (0.85) — Clara E. Mattei, The Capital Order, 1435
• Austerity reversed postwar labor income gains in both Italy and Britain by 1929 #complicates (0.80) — Clara E. Mattei, The Capital Order, 1486
• British austerity predated its codification at the 1920 Brussels and Genoa conferences #qualifies (0.80) — Clara E. Mattei, The Capital Order, 823
• Austere interwar policies raised measured rates of exploitation in both Britain and Italy #expands (0.80) — Clara E. Mattei, The Capital Order, 1731
• The liberal funding anxiety hardened into austerity doctrine by the 1920s #expands (0.80) — Mark Blyth, Austerity, 270
• Mainstream economists applauded Mussolini’s austerity as sound fiscal discipline. #responds-to (0.78) — Clara E. Mattei, Escape from Capitalism, 14
• British observers recognized fascist strength made austerity enforceable in 1922. #expands (0.75) — Clara E. Mattei, The Capital Order, 1367
• Mussolini’s austerity policies won applause from international experts #responds-to (0.75) — Clara E. Mattei, Escape from Capitalism, 14