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Economic policy

Mussolini launched several public construction programs and government initiatives throughout Italy to combat economic setbacks or unemployment levels. His earliest (and one of the best known) was the Battle for Wheat, by which 5,000 new farms were established and five new agricultural towns (among them Littoria and Sabaudia) on land reclaimed by draining the Pontine Marshes. In Sardinia, a model agricultural town was founded and named Mussolinia (it has long since been renamed Arborea). This town was the first of what Mussolini hoped would be thousands of new agricultural settlements across the country. The Battle for Wheat diverted valuable resources to wheat production from other more economically viable crops. Landowners grew wheat on unsuitable soil using all the advances of modern science, and although the wheat harvest increased, prices rose, consumption fell and high tariffs were imposed. The tariffs promoted widespread inefficiencies and the government subsidies given to farmers pushed the country further into debt.

Mussolini also initiated the " Battle for Land ", a policy based on land reclamation outlined in 1928. The initiative had a mixed success; while projects such as the draining of the Pontine Marsh in 1935 for agriculture were good for propaganda purposes, provided work for the unemployed and allowed for great land owners to control subsidies, other areas in the Battle for Land were not very successful. This program was inconsistent with the Battle for Wheat (small plots of land were inappropriately allocated for large-scale wheat production), and the Pontine Marsh was lost during World War II. Fewer than 10,000 peasants resettled on the redistributed land, and peasant poverty remained high. The Battle for Land initiative was abandoned in 1940.

In 1930, in " The Doctrine of Fascism " he wrote, "The so-called crisis can only be settled by State action and within the orbit of the State." He tried to combat economic recession by introducing a "Gold for the Fatherland" initiative, encouraging the public to voluntarily donate gold jewellery to government officials in exchange for steel wristbands bearing the words "Gold for the Fatherland". The collected gold was melted down and turned into gold bars, which were then distributed to the national banks.

Government control of business was part of Mussolini's policy planning. By 1935, he claimed that three-quarters of Italian businesses were under state control. Later that year, Mussolini issued several edicts to further control the economy, e.g. forcing banks, businesses, and private citizens to surrender all foreign-issued stock and bond holdings to the Bank of Italy. In 1936, he imposed price controls. He also attempted to turn Italy into a self-sufficient autarky, instituting high barriers on trade with most countries except Germany.

In 1943, Mussolini proposed the theory of economic socialisation.