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Lecture 15

Lecture 15- Post-WWII.pdf

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Department
History
Course
HIST 386
Professor
Brian Lewis
Semester
Fall

Description
full employment seems here to stay economy strong enough to soak up existing unemployment and new supplies of labour incomes rise generous provisions of new welfare state explosive and sustained growth in world economy spectacular events in globalization and internationalization of the economy economic dominance of US and US dollar contains 60% of all the capital stock of all the advanced capitalist countries produced 60% of all their output US provides financial stability, during which other countries imitate their pre-war eco. expansion greater application of oil and internal combustion engine to European economies US marshall aid to rebuild post-war Western Europe transformation of W.Ger. and Fr. most governments did not return to laissez-faire, going for consensus politics and mixed economy something of a consensus b/w employers and labour representatives, facilitated by governments (called corporatism) the more money people have and the more secure their income is, the more they have to spend on consumer goods unlike pre-war, there wasn't any great gap opening between those in work and the long-time unemployed ppl unemployment was generally below 2% much work was still manual and tedious, but still gave them decent pay checks tv sets explode in the home private cars as well Tories in power successive conservative administrations 1951-64 they had rebuilt since their shock defeat in 1945 consolidated support in suburbs and moved into vacated liberal territory labour infighting 1951 onwards, bedevilled by factional infighting Hugh Gateschool (right) and Nay Bevin (left) because of Korean War Brits abandoned any residual pro-Soviet feeling sent troops to fight alongside Americans meant mil. expenditure had to rise again, which hurt the economy Bevin resig
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