The growth of the global economy, 1945-2000
H2 History - syllabus 9174, 2027
Why the world economy grew so fast after 1945: reconstruction, the USA, Western Europe and Japan, multinational corporations, and international organisations, and how their importance changed over time.
- Post-war reconstruction, 1945-1960
Rebuilding after the Second World War started a long boom. Pent-up demand, new technology and American aid came together.
- The role of the USA
The USA led the post-war economy by supplying money, markets and rules. Its dominance declined after the 1960s.
- The roles of Western Europe and Japan
Western Europe and Japan became new engines of growth, through integration in Europe and export-led industry in Japan.
- Multinational corporations
Multinational corporations spread capital, technology and production across borders, which tied national economies together.
- International organisations and arrangements
The IMF, World Bank and GATT created stable rules for money and trade, and regional arrangements widened markets.
- Weighing the factors over time
The most important factor changed over time. US leadership and reconstruction dominated early; MNCs, Japan and the wider world mattered more later.
- Put it together: Which factor drove growth?
Pick a factor and test it against the evidence.
What you will be able to do
I can judge which factors did most to grow the global economy after 1945, and how this changed over time.
Syllabus 9174, Paper 1, Theme II, Learning Outcomes. evaluate the factors that contributed to the growth of the global economy over time
Taught in Post-war reconstruction, 1945-1960, The role of the USA, The roles of Western Europe and Japan, Multinational corporations, International organisations and arrangements, Weighing the factors over time