The decades after World War II were a golden age for most of the world, during which jobs were easy to find and living standards improved. But in 1973, the good times vanished and the world’s economy slumped.
In “An Extraordinary Time,” economic historian Marc Levinson describes how the end of the postwar boom reverberated throughout the global economy, bringing energy shortages, financial crises, soaring unemployment and a gnawing sense of insecurity. Politicians, suddenly unable to deliver the prosperity of years past, railed haplessly against currency speculators, oil sheikhs and other forces they could not control. Almost everywhere, the pendulum swung, bringing politicians like Margaret Thatcher and Ronald Reagan to power. But their promise that deregulation, privatization, lower tax rates and smaller government would restore economic security and robust growth proved unfounded.
A reappraisal of the past 60 years of world history, “An Extraordinary Time” looks at how little control we actually have over the economy.
“An Extraordinary Time” is available for $22.39 at www.800ceoread.com.