Economy After Cold War

In: Historical Events

Submitted By sajidazfar
Words 3190
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Post–World War II economic expansion
From Wikipedia, the free encyclopedia
"Golden Age of capitalism" redirects here. Other periods this term may refer to are Gilded Age and Belle Époque.
In the United States and several other countries, the boom was manifested insuburban development and urban sprawl, aided by automobile ownership.
Many Western governments funded large infrastructure projects during this period. Here the redevelopment of Norrmalm and theStockholm Metro, Sweden.
The post–World War II economic expansion, also known as the postwar economic boom, the long boom, and the Golden Age of Capitalism, was a period of economic prosperity in the mid-20th century which occurred, following the end of World War II in 1945, and lasted until the early 1970s. It ended with the collapse of the Bretton Woods system in 1971, the 1973 oil crisis, and the 1973–1974 stock market crash, which led to the 1970s recession. Narrowly defined, the period spanned from 1945 to 1952, with overall growth lasting well until 1971, though there are some debates on dating the period, and booms in individual countries differed, some starting as early as 1945, and overlapping the rise of the East Asian economies into the 1980s or 1990s.
During this time there was high worldwide economic growth; Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment. Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Greece (Greek economic miracle), West Germany (Wirtschaftswunder), France (Trente Glorieuses), Japan (Japanese post-war economic miracle), and Italy (Italian economic miracle).
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Terminology
In academic literature, the period is frequently…...

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