End of a Golden Age

The post-World War II economic boom, which lasted from 1948 to 1973, not only brought unprecedented prosperity to the industrialized world but also false expectations. The legacy of this “Golden Age” continues to loom over politics today. Voters in many Western countries have begun turning to populists in their relentless search for political leaders who can bring back the full employment and economic growth their parents and grandparents enjoyed. No government, however, will be able to do so, says economic historian Marc Levinson: The postwar economic boom resulted from unique and unrepeatable historic circumstances. getAbstract recommends Levinson’s article to citizens across the world interested in gaining a historical perspective on contemporary economic policy debates.