Foreign News: Way of the Strong

Last week Benito Mussolini decreed for all Italy a fresh dose of discipline. Every Italian salary and wage will be cut, announced the Dictator, and so will every Italian price. By submitting to this discipline Italians will obtain (without going off the gold standard) the same competitive advantage in foreign trade that U. S. citizens achieved by debasing their dollar. In II Duce's view inflation or debasement is a slick way of cutting wages and prices under the pretense of raising them. For an undisciplined nation such slickery may be the only way, but...

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