Italy and the Great Depression

The Great Depression

Main Effects

• Withdrawel of US investments.
• Farmers were hit badly with collapsing grain prices.
• Unemployment went up to two million.
• Wages fell.
• Industry was also badly effect because of the fall in demand for goods.

Government Action

• IMI set up to help banks.
• The IRI (Institute of Reconstruct Industry) was also set up. This held the shares of firms to protect them.
• It acted mainly as a hospital for ailing firms than trying to do anything drastic.
• The amount of hours in a working day was reduced. This meant that people worked (no unemployment), and earned money, buying cars etc. as there are lots of roads now (so business are fine), and they spent…