Interwar austerity crushed class-based activism in Britain and Italy.

Evidence

Th e interwoven devastations of fi scal, monetary, and industrial austerity smothered all forms of classbased activism in 1920s Britain and Italy. In Britain, a handful of remaining strikes sought only to achieve sectional industrial interests, not the fullblown recasting of the organization of production; in Italy strikes disappeared altogether. — Clara E. Mattei, The Capital Order, 1549

Categorization

• XREF: The mechanism here — coordinated fiscal, monetary, and industrial austerity jointly suppressing labor — is the template for post-2008 and IMF structural adjustment programs. — connects to: Monetary austerity, by raising sterling, crushed British exports and unions — Clara E. Mattei, The Capital Order: How Economists…, 414; Interwar austerity conferences aimed to crush postwar visions of social emancipation. — Clara E. Mattei, The Capital Order: How Economists…, 663; Austerity-driven unemployment stripped organized labor of its political power in Britain. — Clara E. Mattei, The Capital Order: How Economists…, 1503 (+8 more)

Broader Connections

• Britain pioneered austerity in 1920 and Mussolini’s Italy followed in 1922 #expands (0.85) — Clara E. Mattei, The Capital Order, 820
• Austerity originated after World War I as a counteroffensive against working-class unrest #expands (0.85) — Clara E. Mattei, The Capital Order, 28
• Austere interwar policies raised measured rates of exploitation in both Britain and Italy #expands (0.80) — Clara E. Mattei, The Capital Order, 1731
• Fascist austerity dismantled postwar gains and re-separated economics from politics #expands (0.80) — Clara E. Mattei, Escape from Capitalism, 193
• Fascist austerity dismantled welfare, cut taxes on capital, and banned unions #expands (0.75) — Clara E. Mattei, Escape from Capitalism, 193
• Fascist and democratic austerity both suppressed dissent in matching patterns #expands (0.75) — Clara E. Mattei, The Capital Order, 1475