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Death of Post-WWII Economy
- The post-WWII economic system, based on U.S. industrial dominance, is now dead and collapsing.
- A new economic order is emerging, but it is still undefined and fraught with uncertainty.
Rebuilding After War Drives Economy
- U.S. manufacturing dominance post-WWII forced reconstruction of Europe and Japan to create markets.
- This period allowed multiple powers to industrialize simultaneously without zero-sum conflicts.
Reagan's Economic Shock Therapy
- Reagan raised interest rates to unsustainable levels, causing global economic distress.
- This created a temporary boost to American manufacturing profitability at a great human and global cost.