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Are scholars justified in using the term ‘Golden Age’ to describe the economic history of Western Europe during the period between 1950 to 1973
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Are scholars justified in using the term 'Golden Age' to describe the economic history of Western Europe during the period between 1950 to 1973? 'Nothing in the history of Western Europe resembles its experience between 1945 and 1968.' Milward, European rescue, pg. 21 In the quarter of a century that followed the Second World War, the achievements of the European economy were so impressive that the period was often referred to as the 'Golden Age'. Since 1913 Europe had experienced two world wars plus the great depression and trade wars of the 1930's, the economy had been stunted and growth was well below trend. In the early post-war years between 1945 and 1947 recovery was frustrated by shortages of food, labour, raw materials and the need to reastablish both financial and political institutions. However this gave Europe a clean slate so to speak and the opportunity for rapid growth through the correction...
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