Post-World War II Economic Expansion Lambert M Surhone

Publisher Marketing: Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The post-war economic expansion, also known as the long boom, was an international period of economic prosperity in the mid 20th century which followed the end of World War II in 1945, and lasted until the early 1970s, ending 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 1950/1951 to 1973, though there are some debates on dating the period, and booms in individual countries differed, some starting as early as 1945, and with the East Asian booms lasting into the 1980s or 1990s. During this time there was high world-wide 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 West Germany (Wirtschaftswunder), France (Trente Glorieuses), Japan (Japanese post-war economic miracle) and Italy (Italian economic miracle).