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

* * * {{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