Italy's Economy
The Italian Economic Miracle
How Italy grew rapidly in the 1950s and 1960s, turning from a poor farming country into an industrial power, with iconic products like the Fiat 500 and Vespa.
After World War II, Italy boomed.
The miracle
From the 1950s to early 1960s, Italy grew very fast, called the miracolo economico.
Drivers
- Marshall Plan aid.
- Cheap labour from farms and the south.
- Joining the European common market in 1957.
- State firms in steel and energy, like ENI.
Iconic products
- The Vespa scooter (1946).
- The Fiat 500 (1957).
- Appliances and design.
Migration
Millions moved from the south to northern factory cities like Turin and Milan.
The Fiat worker
A farmer from Calabria moves to Turin to build Fiat cars, buying his own Fiat 500 a few years later.
Thinking Italy was always rich
It was largely rural until the 1950s.
Key takeaways
- Italy boomed in the 1950s and 1960s.
- Marshall aid and cheap labour helped.
- The Vespa and Fiat 500 became icons.
- Millions moved north.
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