The Capital Order by Clara E. Mattei;

Author:Clara E. Mattei; [Mattei, Clara E.]
Language: eng
Format: epub
Tags: BUS000000 BUSINESS & ECONOMICS / General, BUS023000 BUSINESS & ECONOMICS / Economic History, BUS045000 BUSINESS & ECONOMICS / Money & Monetary Policy, BUS029000 BUSINESS & ECONOMICS / Free Enterprise & Capitalism
Publisher: University of Chicago Press
Published: 2022-11-18T00:00:00+00:00

In the speech of the 25th of November, I reminded the Parliament that, right after the march on Rome, the awareness of the financial necessities of the Nation were widespread, even in the humblest part of the Italian population. Today, as yesterday, I need to place on the national agenda the conscious renunciation of the rights gained by the crippled, the invalids, the soldiers. These renunciations constitute for our soul a sacred sacrifice: austerity. (De Stefani 1926b, 34, my emphasis)

These may remind us of the words of the British Treasury officials who, though more soft-spoken when addressing the working classes, also invoked the notions of “sacrifice” and “enforcing abstinence” (Hawtrey 1919a, 230). Indeed, the Italian story more explicitly discloses dynamics and goals that were already apparent in chapter 6 regarding British austerity. Economic theory—be it Hawtreyan economics or pure economics—provided consensus for coercive policies, disguising them as beneficial to society at large. We have shown how our experts concealed the relations of domination behind abstract economic principles only to buttress these relations of domination via austerity policies.

Chapter 8 delves deeper into the interconnection between the two stories: Fascist austerity was widely applauded and supported by the British establishment.

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