Luigi Einaudi

Luigi Einaudi , 1874-1961, president of Italy (1948-55). A noted economist, a senator for life from 1919, and an opponent of Fascism after 1924, Einaudi taught at the Univ. of Turin until 1943, when he fled to Switzerland. After his return he was governor of the Bank of Italy (1945-48) and vice premier and minister of the budget under Alcide De Gasperi (1947). His drastic measures helped to curb inflation. In 1948 he was elected president under the new constitution. He was succeeded (1955) by Giovanni Gronchi.

Einaudi, Luigi (b. 24 Mar. 1874, d. 30 Oct. 1961). President of Italy 1948–55 Born in Carrù, he graduated from Turin University, where he was professor of economics, 1902–48. In 1908 he became editor of the Riforma sociale, and began writing for the newspapers La stampa and Corriere della sera. As an economist, he fell foul of Mussolini's regime for attacking not only Communist, but also Fascist economics. As a result, he was forced to emigrate to Switzerland in 1943. He returned to liberated Italy in 1944 and became president of the national bank, the Banca d'Italia. Through his liberal economic policies in this position and as Budget Minister under De Gasperi he made a substantial contribution to the stabilization of the lire, for which he is best remembered. In 1948 he was the first to be elected to the largely ceremonial post of President of the Republic.