To maintain profit levels, the large landowners and industrialists would have to slash wages and raise prices. The state in turn would have to provide them with massive subsidies and tax exemptions. To finance this corporate welfarism, the populace would have to be taxed more heavily, and social services and welfare expenditures would have to be drastically cut—measures that might sound familiar to us today. But the government was not completely free to pursue this course. By 1921, many Italian workers and peasants were unionized and had their own political organizations. With demonstrations,
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