jan 1, 1974 - In the 30 or so years after the Second World War, reporting GDP was a recurring triumph, especially in the West. It was the “Golden Era of Capitalism” in America, the “Wirtschaftswunder” in Germany, and the “Trente Glorieuses” in France. Nominal GDP growth could reach 10% or more, and in real, inflation-adjusted terms still often topped 5%. But there is a painful end to this story, and we could have foreseen it had we better listened to Kuznets himself.
Added to timeline:
Date:
jan 1, 1974
Now
~ 51 years ago