Liberal economist Einaudi celebrated fascism as restoring investor confidence

Evidence

When the worst happened, in September last, and the occupation of factories by armed workers and the institution of Soviets in factories seemed to point to an imminent Communist revolution in Italy, and the government declared its impotence to use the armed force for the enforcement of the law, a sudden revolution took place. Youths of the middle class, returned men and officers, in indignation grouped themselves into “fasci.”… The communists are everywhere defeated.… This renewed feeling of hope in the future of our country is not the least important cause of the better tone in foreign exchanges. — Clara E. Mattei, Escape from Capitalism, 201

Categorization

• XREF: Striking parallel: a ‘liberal’ economist praising anti-worker violence in explicitly financial terms (‘better tone in foreign exchanges’) — modern market cheerleading of authoritarian crackdowns has an exact precedent. — connects to: Modern austerity arguments trace directly to Einaudi’s Bocconi school of ordoliberal economics — Mark Blyth, Austerity: The History of a Dangerous…, 450; Liberal economists supported fascist austerity despite opposing dictatorship — Gary Mongiovi, Austerity Is an Antidemocratic Strategy…, 107; Mussolini’s austerity policies won applause from international experts — Clara E. Mattei, Escape from Capitalism: An Intervention, 14 (+3 more)

Broader Connections

• Liberal economists supported fascist austerity despite opposing dictatorship #exemplifies (0.85) — Gary Mongiovi, Austerity Is an Antidemocratic Strategy…, 107
• Mussolini’s austerity policies won applause from international experts #corroborates (0.80) — Clara E. Mattei, Escape from Capitalism, 14
• Liberal economists endorsed Mussolini to enforce austerity on Italy’s workers #expands (0.80) — Clara E. Mattei, The Capital Order, 656
• Foreign observers endorsed fascism through its claimed practical achievements #corroborates (0.75)
• Austerity served as proof of creditworthiness to international finance for the Fascist regime #corroborates (0.75) — Clara E. Mattei, The Capital Order, 1435