The centenary of the March on Rome has sparked a renewed interest in the rise of fascism in Italy. Recent works by Weyland (2021) and Acemoglu et al. (2022) have claimed that the fascist takeover occurred due to the threat posed by the extreme left. They further add that, since Mussolini's rise resulted from this unique interwar "red menace", the situation is non-repeatable. In this paper, I will challenge this vision. I claim that the rise of fascism was the consequence of the electoral tactics employed by Giolitti's liberals. To do so, I will first show that, for the 1921 elections, Giolitti designed the common electoral lists "National Blocks" to include the fascists wherever the socialists were the strongest. Then, I will show that fascist electoral success is a consequence of the list made by Giolitti. I argue that Giolitti gave them publicity and legitimacy that was fundamental for their rise.
