Fascist economic austerity was abandoned when it threatened market principles

Evidence

Ricci acted with determination: as we shall see, the national railways were among the institutions most aff ected by cuts, while the Fascist government also privatized the National Institute of Insurance. But Ricci proved to be more austere than even Fascism could satisfy. In the name of a strict defense of austerity, he ended his service to the government in February 1925. Indeed, the polemic that distanced Ricci from the regime had little to do with breaching political freedom and everything to do with breaching “economic freedom”— the freedom of the market. — Clara E. Mattei, The Capital Order, 1066

Categorization

• XREF: Relates to the broader theme of austerity as a class weapon — the Italian case shows austerity’s limit being market freedom, not political repression, which nuances the standard view of Fascism. — connects to: Fascist fiscal policy shifted tax burden onto consumption, not wealth — Clara E. Mattei, The Capital Order: How Economists…, 1226