HST 296 Chapter Notes - Chapter 4.2: Corporate Capitalism, Social Democracy, Socalled
Document Summary
Industrial production increased by 5. 6% each year during 1948-71. Western europe was catching up with the u. s. in industrialization and in creation of consumer society sustained by rising incomes. This process had been interrupted by depressions and 2 world wars. Greece and ireland saw substantial shifts from agrarian societies to industrial. Many nations experimented with economic planning during this time period. Social democrats concentrated on expanding social services. All these efforts were made in hopes of redistribution of wealth after the war. Communists were driven out of the government"s. Evaluations starting in britain helped stabilize exchange rates. Western europe corporate capitalism was a mix of economies: state sector played huge role. Social market economy: market would be regulated to avoid monopolies and cartels; people would be cushioned against market forces through social insurance. Had been well established in western europe before 1914. In north america it emerged during the great depression.
