GPHY 228 Chapter 2: GPHY 228 – Week 3 Readings – Chapter two
6 Feb 2017
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Gphy 228 week 3 readings chapter two: the golden era. Capitalism as a stable mode of production seemed to come into its own in the after math of the second world war. Between 1950 and 1973 output per capita in the industrialized countries rose three times faster than the average of the previous 130 years. This new model capitalism created a new mode of regulation, which included fordist production methods and the welfare state, at least for the advanced industrial societies. The so called third world or developing countries id not partake of the synergy of the golden era. The great crash of 1929 and the long depression of the 1930s provided a shock to the economic and political leaders of capitalism. The central feature of this (cid:374)e(cid:449) (cid:373)odel (cid:858)(cid:373)a(cid:374)aged(cid:859) (cid:272)apitalis(cid:373) (cid:449)as a ge(cid:374)eralized acceptance of the so called mixed economy that is, a capitalist framework within which state enterprise was tolerated and government help responsible for managing the economy.
