The ideology of the fascism was based on extreme nationalism. In Mussolini's Italy it was believed that a strong country was one with an independent economy, industry, technology and positive economic results. And they were looking for economic autarchy.
Fascism hoped to obtain a popular adhesion in all the social classes of Italy, and thus eliminate all possibility of class struggle
Mussolini's thoughts were that the enemy of the Italian proletariat must necessarily be a foreigner, and it was necessary to establish social laws to improve the standard of living of the lower classes of Italy and eliminate all possible encouragement of "communist revolution".
Italy supported itself in corporatism.Corporatism is that the state acts as an arbitrator in the disputes between institutions. State interventionism was a legal construction of Alfredo Rocco, with the labor laws of the years 1926 and 1927. On which the State reserves the last provision.
In 1927 mussolini began the "battle of the lyre" to obtain a greater appreciation of the Italian currency in the international currency market, setting the official exchange.
Partly for reasons of prestige in the face of the collapse of its currency, partly to combat post-war inflation, the fascist regime revalued the Italian lira up to the so-called "quota ninety". And raise interest rates. Reduced the monetary flows and salary costs.
For this reason it reduced the working journey and granted social benefits for the working class: paid vacations, extraordinary Christmas payments, subsidies to large families...
The "battle of the lyre" produced great price stability and even a decrease in the cost of living, estimated at 16% between 1927 and 1932.
It damaged foreign trade, but nevertheless, the Gross Domestic Product grew notably, and certain sectors -construction, electricity, chemistry, metallurgy- registered high growth rates. The 1927 measures would make Italy endure the great international crisis of 1929 less dramatically than other countries.
But after 1929 Mussolini was forced to give up the gold standard and let the Italian lira devalue to avoid a collapse of the export.
The Italian economy still depended heavily on international trade, which led to a deep crisis in 1930 and this led to the creation of the Istituto per la Ricostruzione Industriale (IRI) in 1933. Only in the mid-30s did Mussolini accept the difficult situation and decided to devalue the lira by 41% to avoid dangerous inflation, and introduced new taxes.
From that moment the fascist regime was more concerned with the economy of the country, stimulating Italian exports.