The Golden Age of Capitalism: Reinterpreting the Postwar Experience
Stephen A. Marglin and Juliet B. Schor
Abstract
For some twenty years after the Second World War, Keynesian economic policies in countries of the capitalist West were successful in generating rapid growth with high employment. This ‘golden age of capitalism’ did not survive the economic traumas of the 1970s; nor has the more recent emphasis on monetarist policies and supply-side performance succeeded in regenerating comparable growth rates. Blending historical analysis with economic theory, this book seeks to understand the making and unmaking of this ‘golden age’, question the basis of much present policy-making, and suggest alternative di ... More
For some twenty years after the Second World War, Keynesian economic policies in countries of the capitalist West were successful in generating rapid growth with high employment. This ‘golden age of capitalism’ did not survive the economic traumas of the 1970s; nor has the more recent emphasis on monetarist policies and supply-side performance succeeded in regenerating comparable growth rates. Blending historical analysis with economic theory, this book seeks to understand the making and unmaking of this ‘golden age’, question the basis of much present policy-making, and suggest alternative directions for policy.
Keywords:
Second World War,
Keynesian,
capitalist West,
monetarist,
supply-side performance,
growth rates,
historical analysis,
economic theory,
golden age
Bibliographic Information
| Print publication date: 1992 |
Print ISBN-13: 9780198287414 |
| Published to Oxford Scholarship Online: October 2011 |
DOI:10.1093/acprof:oso/9780198287414.001.0001 |
Authors
Affiliations are at time of print publication.
Stephen A. Marglin, editor
Juliet B. Schor, editor
Harvard University
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