The free-market century is over
The Gray Area with Sean Illing
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The Rise and Fall of Social Democracies
This chapter examines the evolution of social democracies and welfare states from 1945 to 1975, contextualizing their growth within the aftermath of the Great Depression and World War II. It contrasts the U.S. experience with the challenges faced by other nations in pursuing similar reforms, while also addressing the decline of social democracy and the rise of neoliberalism from the late 1970s onward. Additionally, the chapter critically analyzes the implications of the 2008 Great Recession on wealth distribution and the effectiveness of market solutions in addressing social challenges.
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