Rise and fall of fossil fueled world economy 1750-2025
Perplexity: which decade was the best for global economy and most countries The **best decade for the global economy and most countries was the 1960s**, often called the **Golden Age of Capitalism** or the **post–World War II economic expansion**. Key reasons include: - The 1960s saw the **highest global economic growth rates in modern history**, with OECD countries averaging nearly **5% annual GDP growth**, compared to much slower growth in later decades[1][5]. - This period was marked by **widespread prosperity, low unemployment, and rising living standards** across North America, Western Europe, Japan, and other regions recovering from WWII devastation[5]. - Technological advances such as the **introduction of shipping containers** revolutionized trade, making global commerce cheaper and more efficient, further boosting growth[1]. - The **global nominal GDP expanded rapidly**, with world income growing from $1 trillion in 1960 to $10 trillion by 1980[1]. - Economic growth was ...