1945 - 1974
The post-World War II 30-year boom period (the trente glorieuses)
In the free-market developed countries, a period of exceptional growth. During the three decades following the Second World War, the free-market developed countries saw high growth, above 5% annually in the case of France. New products (household appliances, cars, aeroplanes, televisions) and new processes and modes of work organisation (mechanisation of agricultural and industrial production, Fordism) appeared or developed, leading to a sustained increase in productivity. These productivity gains made it possible, in turn, to raise wages, thus supporting demand and growth. In many countries, this expansion also fostered the creation of the welfare state (social security in France in 1945) to protect workers from risks such as illness, old age and unemployment.