→ 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)
