Yes, this. Too many people think of post-WW2 as this huge time of prosperity. And it was.. for Americans primarily. All of the formerly-industrialized nations

Yes, this. Too many people think of post-WW2 as this huge time of prosperity. And it was.. for Americans primarily. All of the formerly-industrialized nations had to be "rebooted," primarily on the back of the Americans through efforts like the Marshall Plan. And this was a good thing. The thing is that when you have ZERO competition, even a broken system looks pretty good and performs pretty well by comparison. But conditions are fundamentally different now. The industrialized nations are still industrialized. New nations have become industrialized since. People travel easier and further. Capital flows easier and faster. News and information travels the fastest of all. Copying the decisions of the 1950's 1960's without acknowledging that conditions are different is foolish at best and suicidal at worst.