The essay focuses on Einaudi’s activity in his capacity as Budget Secretary in the fourth De Gasperi Government (May 1947). This reconstruction highlights the ‘political’ nature of Einaudi’s role, as it is evident in his links with the Italian Liberal Party and in the policies he implemented, which laid the foundations for a ‘mixed’ economy, but far removed from the plans of the left-wing parties. Contrary to what much historiography has claimed, despite the undeniable importance of the Marshall Plan aid the so called “Linea Einaudi”, based on the principle of budgetary balance and attention to spending policies, tended towards Italy’s economic independence and not towards subservience to foreign powers, as communist propaganda claimed.