In the three decades following the Second World War, egalitarian liberalism underpinned an era of remarkable economic performance across much of the industrialized world. High growth rates, rising wages, low unemployment, modest inflation, and expanding systems of social security characterized what has often been described as the “golden age” of controlled capitalism. By the early 1970s, however, this postwar settlement began to unravel under the weight of a series of profound economic disruptions. The economic crises of the 1970s exposed vulnerabilities that Keynesian policy frameworks struggled to address. External shocks—most notably the oil crises of 1973 and 1979—dramatically increased energy prices, triggering inflationary pressures across advanced economies. At the same time, these economies experienced the unprecedented combination of rising unemployment and high inflation, a phenomenon that came to be known as “stagflation.” Declining productivity growth and falling corporate ...
John writes on trends, worldviews, lifestyles, and human behavior, exploring how people think, choose, and live. His work spans innovation, values, politics, religion, and philosophy, with a strong focus on culture, everyday life, and social change— examining alterations in the pattern of society. In addition to writing, John directs online programs at Ransford Global Professional Development LLC: https://ransford.yolasite.com/