Abstract
The years from 1950 to 1973 were years of unparalleled growth for the whole Western world. The labels which scholars have attached to them are indeed telling: ‘the golden years’,1 ‘the glorious decades’,2 ‘the golden age’.3 As Eric Hobsbawm put it, what is striking about them is not their occurrence but their extraordinary scale and depth.4 This sound trend cycle was, in fact, marked by unprecedentedly high rates of growth and productivity; the output per man hour turned out to be twice as much as the average in the previous period from 1913 to 1950.5 World output of manufactured goods quadrupled between the early 1950s and the early 1970s.6 KeywordsPrivate ConsumptionFull EmploymentLabour PartySocialist PartySocialist SocietyThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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