Alberto de' Stefani (6 October 1879 – 15 January 1969) was an Italian politician and economist. Coming from a background in liberalism to
Benito Mussolini's
fascism
Fascism is a far-right, authoritarian, ultra-nationalist political ideology and movement,: "extreme militaristic nationalism, contempt for electoral democracy and political and cultural liberalism, a belief in natural social hierarchy an ...
, De Stefani was in charge of Italian economics from 1922 to 1925. His time in charge was characterized by ''
laissez-faire
''Laissez-faire'' ( ; from french: laissez faire , ) is an economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies) deriving from special interest groups ...
'' ideals.
Minister of treasury
De Stefani was appointed by Mussolini as the
minister of treasury in December 1922 when
Vincenzo Tangorra suddenly died. He was a liberal economist and a former stalwart leader in the Centre Party who favoured policies such as
free-trade
Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold econo ...
,
lowering taxes without too much government interference and
privatisation of businesses such as the communications industry.
[Nicholas Farrell, ''Mussolini: A New Life'', Phoenix, 2004, p. 185] He also undertook a thorough reform of the taxation system in Italy which was adjudged a success at the time, although it has been noted that the reforms he enacted had been laid out by his predecessor
Filippo Meda but not enacted. De Stefani took advantage of the dictatorial powers afforded to Mussolini's regime to enact these reforms, which had previously been blocked by parliament.
The economy prospered under de Stefani's direction, as part of a Europe-wide growth. Both
wages and the
cost of living
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a cer ...
fell under his direction.
He accomplished his goal of a
balanced budget for the financial year 1924–25. By mid-1925, however, the economy was heading towards crisis and Mussolini dismissed de Stefani, replacing him with the
corporatist
Corporatism is a Collectivism and individualism, collectivist political ideology which advocates the organization of society by Corporate group (sociology), corporate groups, such as agricultural, labour, military, business, scientific, or guil ...
Giuseppe Volpi
Giuseppe Volpi, 1st Count of Misrata (19 November 1877 – 16 November 1947) was an Italian businessman and politician.
Count Volpi developed utilities which brought electricity to Venice, northeast Italy, and the Balkans by 1903. In 1911†...
.
Later political career
Although removed from his position as minister de Stefani remained a member of the Grand Council of Fascism until the collapse of Mussolini's regime. From this position de Stefani often criticised some of the actions of Mussolini's government. Although an
economic liberal
Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, ...
, he was
socially conservative
Social conservatism is a political philosophy and variety of conservatism which places emphasis on traditional power structures over social pluralism. Social conservatives organize in favor of duty, traditional values and social institution ...
and in 1928 launched an attack on what he felt was the "abundantly liberal" legislation being passed on marriage, arguing that those who chose not to procreate should be denied the same legal rights as parents. He would later become associated with a tendency that included fellow movement veterans
Emilio De Bono
Emilio De Bono (19 March 1866 – 11 January 1944) was an Italian general, fascist activist, marshal, and member of the Fascist Grand Council (''Gran Consiglio del Fascismo''). De Bono fought in the Italo-Turkish War, the First World War and t ...
,
Italo Balbo
Italo Balbo (6 June 1896 – 28 June 1940) was an Italian fascist politician and Blackshirts' leader who served as Italy's Marshal of the Air Force, Governor-General of Libya and Commander-in-Chief of Italian North Africa. Due to his young a ...
and
Luigi Federzoni
Luigi Federzoni (27 September 1878 – 24 January 1967) was a twentieth-century Italian nationalist and later Fascist politician.
Biography
Federzoni was born in Bologna. Educated at the university there, he took to journalism and literature, a ...
that was highly critical of the introduction of
Nazi Germany
Nazi Germany (lit. "National Socialist State"), ' (lit. "Nazi State") for short; also ' (lit. "National Socialist Germany") (officially known as the German Reich from 1933 until 1943, and the Greater German Reich from 1943 to 1945) was ...
-influenced racial laws into Italy.
Academic career
Away from politics, de Stefani served as a lecturer in economics at the
Vicenza
Vicenza ( , ; ) is a city in northeastern Italy. It is in the Veneto region at the northern base of the ''Monte Berico'', where it straddles the Bacchiglione River. Vicenza is approximately west of Venice and east of Milan.
Vicenza is a thr ...
Institute of Technology. He later was appointed a professor at the
University of Rome.
[Paul B. Trescott, ''Jingji Xue: The History of the Introduction of Western Economic Ideas into China, 1850–1950'', Chinese University Press, 2007, p. 96]
References
External links
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{{DEFAULTSORT:Stefani, Alberto
1879 births
1969 deaths
Finance ministers of Italy
Italian economists
Italian fascists
Mussolini Cabinet
Academic staff of the Sapienza University of Rome