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[–] 4 points 3 months ago* (last edited 3 months ago) (2 children)

Australia had a huge sustained boom from the late 1940s through to 1970s, which was also aided by the Korean war. The boom tapered off with the oil shocks and stagflation of the early-to-mid 1970s

The UK also had a boom, recovering from rationing into the 1950s they joined the global long boom until the 1970s but yes it was not as strong as other countries booms due to the damage and cost of the war

Harold Macmillan's famous 1957 line "you've never had it so good" sums it up pretty well

Europe had a massive boom known as the golden age of capitalism, nfi what you are talking about

https://en.wikipedia.org/wiki/Post%E2%80%93World_War_II_economic_expansion

The United States, the Soviet Union, Australia and Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment.

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  • [–] -1 points 3 months ago (1 child)

    That was the time after WW2. Of cause the economy does a lot better, when you do not bomb out cities and kill millions. That could have happened earlier, without the war and everybody would have been better of.

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  • [–] 0 points 3 months ago

    Military spending, wealth redistribution, tax system changes and the Marshal Plan for rebuilding Europe are direct war results that caused the boom. Everything needed rebuilding and everyone wanted to work together, leading to economic agreements and the formation of the European Union. Everyone needed materials like steel for construction. The Korean War then seriously boosted countries like Japan and Australia again

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