jan 20, 1942 - Post World War II economic policies (Western countries)
Description:
The post world war II expansion was caused by Keynesian economic policy, specifically this policy caused the government to borrow large sums of money to invest in the economy while also lowering taxes and interest rates to encourage citizens to spend money thereby increasing demand for goods in the economy. This paved the way for the explosion of development in many industries especially in the auto industry, but there was also development in technology, film, radio and many other fields. What allowed the massive increase in development was the economic boom from the second world war. While keynesian economics keep many of the components of capitalism the implementation of those ideas is a shift to the left. This is because the post world war II economic policy involved the government in the business cycle and government intervention in the economic marks a shift to the left.
Added to timeline:
Economics/Politics Prjoect
By: Patrick Golden And Jakob Allan
Date:
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