This makes for a great low effort narrative but I'm unconvinced the luxurious economic circumstances of those decades weren't just a result of the competition l

This makes for a great low effort narrative but I'm unconvinced the luxurious economic circumstances of those decades weren't just a result of the competition literally going up in flames. There was NO chance any industrialized nation was staying stagnant or moving backwards after WW2 created all sorts of potential for further industrial progress. That's just a non-starter in so many ways.