Whilst the physical and economic destruction resulting from the second world war was devastating, it also succeeded in demolishing the preeminent economic order. This presented a new set of opportunities to embrace more progressive economic tenants focused around globalisation and these were structured around J.M Keynes’ approach to domestic demand management. As we know, the result was a near global experience of a long boom which would not abate until the 1970s.

Keynsian economics at a very basic level centred around the idea that some level of economic intervention is necessary for an economy to reach full employment and prevent capitalist hoarding. This is as injecting money into the economy will manipulating demand to increase and stimulate growth. Whilst these theories were first related to a single domestic economy, it was their application to maintaining full employment and high levels of growth on the world stage that caused the Long Boom.
After the war of the US......

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Title: Causes Of The Long Boom In The World Economy
Approximate Word Count: 692
Approximate Pages: 3 (250 words per double-spaced page)

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