2022/31 | LEM Working Paper Series | ||||||||||||||||
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Those Who Were Better Off: Capital and Top Incomes in Fascist Italy |
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Giacomo Gabbuti |
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Keywords | |||||||||||||||||
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Fascist Italy; income inequality; interwar Europe; top incomes; capital.
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JEL Classifications | |||||||||||||||||
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D31, D63, E25, J31, N34
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Abstract | |||||||||||||||||
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In the centennial of the March on Rome, this paper contributes to the political economy of Italian Fascism by addressing
in quantitative terms the fortunes of Italian economic elites during the interwar period. Macro-economic indicators
indicate capital accumulation and high profits, in a period characterised by international economic turmoil, alongside
increasing concentration. New fiscal evidence is adopted to show the increasing relative position of the rich, including
new series of top income shares. A discussion of taxation at the top and its evasion makes it possible to place these
developments within the regressive economic policies of the Fascist regime.
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