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"The Golden Age: A Note on the History of Modern Capitalism (5)"(in Japanese)

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  • Toru Iwami

Abstract

The "golden age" of capitalism, characterized by high growth and moderate inflation, coincided with the Pax Americana. We review the economic history of the postwar years, with an emphasis on the role of the U. S. in reconstructing the world economic order and helping recovery in Western Europe. Why the mixed economy emerged and how it worked in the U. S. and Europe, is another topic of this paper. In last section, factors of high economic growth, and its subsequent termination are reconsidered.

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  • Toru Iwami, 1997. ""The Golden Age: A Note on the History of Modern Capitalism (5)"(in Japanese)," CIRJE J-Series 97-J-16, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:jseres:97j16
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