The economy of Italy under Fascism refers to the economy in Italy between 1922 and 1943 when the Fascists were in control. Italy had emerged from World War I in a poor and weakened condition. An unpopular and costly conflict had been borne by an underdeveloped country. Post-war there was inflation, massive debts and an extended depression. By 1920 the economy was in a massive convulsion — mass unemployment, food shortages, strikes, etc. This conflagration of viewpoints can be exemplified by the "Two Red Years".