Page "Economy of Italy" Paragraph 6

Italy emerged from World War I in a poor and weakened condition.

The National Fascist Party of Benito Mussolini came to power in 1922, at the end of a period of social unrest.

During the first years of the new regime, the Fascist pursued a laissez-faire economic policy: they initially reduced taxes, regulations and trade restrictions on the whole.

However, once Mussolini acquired a firmer hold of power, laissez-faire and free trade were progressively abandoned in favour of government intervention and protectionism.