Monday, June 28, 2010

Following up...

...on the title of a Recent Post

Pretty much everyone is aware that the Great Depression was followed by World War II. After the war we had about 30 years of Keynesian economics and then 30 years of Reaganomics.

What I didn't know is that there were different names for different stages of that 60-year postwar stretch. Here are the names I've turned up:

I don't have much to say about these, except that the "golden age" was a brief 15± year period that perhaps should be called The Golden Moment.

What I think, though, is that the 4-point list, above, actually misses the main thrust of the past 60 years. Those 6 decades need not be broken down into four phases, nor even two, but only one long stretch with a name that captures the essential character of the period: The Great Indebtedness.

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