IV. A. The world economy during the Trente Glorieuses

→ Growth in the world (1950-1973)

– increase in world production of 5% on average per year
– high birth rate and low mortality(baby boom) led to high consumption
– increasing use of credit
– concentration of companies
– modernization of agriculture (mechanization allows for better yields)
– development of the automobile and aeronautics industries
– the tertiary sector becomes the first economic sector
– increase in the standard of living and consumer society

→ An increasingly globalized economy

– transport developed, while the price of oil fell from 1950 to 1970
– creation of the IMF (International Monetary Fund) in 1944 by the Bretton Woods agreements
– preponderance of the dollar (international trade)
– creation of economic organizations (OECE of the Marshall Plan in 1948, becomes OECD in 1961, EEC in 1957, Comecon of the socialist bloc, OPEC in 1960)

20 contemporary history cards (1945 – 2017)