An Extraordinary Time

The End of the Postwar Boom and the Return of the Ordinary Economy
Author(s): Marc Levinson
CD - unabridged
Audio (9 discs)
Product Number: BN10462
Released: Nov 08, 2016
Business Term: Purchase
ISBN: #9781522655572
Narrator/s: James Foster
Publisher: Brilliance Audio
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The decades after World War II were a golden age across much of the world. It was a time of economic miracles, an era when steady jobs were easy to find and families could see their living standards improving year after year. And then, around 1973, the good times vanished. The world economy slumped badly, then settled into the slow, erratic growth that had been the norm before the war. The result was an era of anxiety, uncertainty, and political extremism that we are still grappling with today. In An Extraordinary Time, acclaimed economic historian Marc Levinson describes how the end of the postwar boom reverberated throughout the global economy, bringing energy shortages, financial crises, soaring unemployment, and a gnawing sense of insecurity. Politicians, suddenly unable to deliver the prosperity of years past, railed haplessly against currency speculators, oil sheikhs, and other forces they could not control. From Sweden to Southern California, citizens grew suspicious of their newly ineffective governments and rebelled against the high taxes needed to support social welfare programs enacted when coffers were flush. Almost everywhere, the pendulum swung to the right, bringing politicians like Margaret Thatcher and Ronald Reagan to power. But their promise that deregulation, privatization, lower tax rates, and smaller government would restore economic security and robust growth proved unfounded. Although the guiding hand of the state could no longer deliver the steady economic performance the public had come to expect, free-market policies were equally unable to do so. The golden age would not come back again. A sweeping reappraisal of the last sixty years of world history, An Extraordinary Time forces us to come to terms with how little control we actually have over the economy.

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Author(s): Marc Levinson
Product Number EB00700482
Released: Mar 15, 2017
Business Term: 2 Year
Publisher: Basic Books
ISBN: #9781541697607

Professional reviews

"With his palette of subtle tones and sensitive phrasing, narrator James Foster illuminates every broad idea and all the drama surrounding the end of the postwar economic boom in 1973. His comprehension of economics and politics makes this a riveting discussion for anyone interested in international finance and the capacity of government to influence society. Marc Levinson has a broad international perspective on economic policy, which he unfolds with captivating prose. He chronicles the shift governments made in the 1970s from small-government free-market policies to paradigms that improved social or economic conditions by raising taxes and creating bigger bureaucracies. This important audiobook brings clarity to the animus that roils political debates about what government's role should be in society. T.W. © AudioFile 2018, Portland, Maine"