Word: boom
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WHAT KILLED THE BOOM The '20s flamed out when unchecked speculation led to the stock-market crash of 1929. Bank failures, price deflation and ultimately the Great Depression followed...
1950S U.S.: BIRTH OF THE BOOM...
WHAT KILLED THE BOOM Britain ultimately collapsed under the weight of defending the empire from colonial uprisings and imperial rivals. It lost its technological edge. Lastly, and most ghastly, the Great War bled it white...
...American middle class and unbounded optimism. Following a postwar depression in 1920-21, the economy bounced back with a vengeance, growing a torrid 30% in the next two years. And money succeeded in holding its purchasing power as inflation averaged a less than 1% in the decade. The boom filled federal coffers. The 1920s was the last decade in this century when the federal budget ran a surplus every year. The national debt shrank from $24 billion to $16 billion. Taxes were reduced...
COMPETITIVE ADVANTAGE A perfect market. Ex-soldiers got married, and their offspring, the baby-boom generation, swelled the population 18.4%, to 178 million. Everybody went shopping: consumer spending--adjusted for inflation--surged 38% in the decade. As families grew, demand for hospitals, schools and homes took off. All this activity lifted the average annual growth in real gross national product by 4.8% from 1947 to 1953, slowing to 2.5% for the rest of the decade. Globally, the U.S. economy ruled...