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No. It means that the Bretton Woods economic system was very favorable for Americans while it lasted. And the middle class could afford a house, a car, have mu
by 29athrowaway 3y ago
No.
It means that the Bretton Woods economic system was very favorable for Americans while it lasted. And the middle class could afford a house, a car, have multiple kids, send those kids to college, and have the living standard referred to as "the American dream".
You could even get a job without a college degree, marry in your 20s and sustain a household on one job.
- ForHackernews 3y agoMight also have a little something to do with the fact that the USA was the only major economy that didn't have its industrial base bombed out during the war. The monocausal explanations from mises.org and friends have always seemed less than compelling to me.
- 29athrowaway 3y agoAgain, we are talking about the same thing. https://en.wikipedia.org/wiki/Bretton_Woods_system#Wartime_devastation_of_Europe_and_East_Asia https://en.wikipedia.org/wiki/Bretton_Woods_system#Wartime_d...