Write a note on post war economy and reconstruction
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The post–World War II economic expansion, also known as the postwar economic boom or the Golden Age of Capitalism,[1][2] was a broad period of worldwide economic expansion beginning after World War II and ending with the 1973–1975 recession.[1] The United States, Soviet Union and Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment. Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Japan (Japanese economic miracle), West Germany and Austria (Wirtschaftswunder), South Korea (Miracle on the Han River), Belgium (Belgian economic miracle), France (Trente Glorieuses), Italy (Italian economic miracle) and Greece (Greek economic miracle). Even countries that were relatively unaffected by the war such as Sweden (Record years) experienced considerable economic growth.
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