Late 1940s: Italy's economy is largely based on agriculture, with principal products including fruits, corn, soybeans, olives, olive oil, and wine.

Today: Industrial output, including automobile manufacturing, accounts for more than one-third of Italy's annual gross domestic product, and agriculture brings in less than 5 percent.

Late 1940s: The North Atlantic Treaty Organization (NATO) is founded and Italy becomes one of the first nations to join, firmly aligning itself with the West after the fall of fascist leader Mussolini.

Today: NATO's strength is weakened as some European nations favor the creation of a military headquarters operated by the European Union (EU), outside NATO supervision and control. This possibility has increased tension between the United States—the NATO superpower—and the EU.

Late 1940s: Secretary of State George C. Marshall announces the "Marshall Plan," an assistance package to aid European economic recovery after World War II...