The Managed Economy: the economic role of the state since 1945
THERE are some obvious similarities between the effects of the First and Second World wars. Both brought about a large and rapid extension of the economic role of the state in the economies of the belligerents. The effects of both extended beyond the end of hostilities, in the sense that they encouraged the notion that the state should be the instrument of the changes that were widely sought after. In 1945 as in 1918 there was a widespread determination to change society.
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