Description - The Legacy of the Golden Age: The 1960s and their Economic Consequences by Frances Cairncross
From the perspective of the 1990s, the 1960s seem an economic golden age. National income was growing even faster than in the 1950s; unemployment remained around 2 per cent of the labour force and inflation was at 4 per cent for most of the decade. The decade marked the peak of the long boom that began at the end of the Second World War and was to continue until the oil crisis of 1973. Prosperity was linked with social change in many forms, including the relaxations in the law that contributed to the arrival of the permissive' society, the founding of many new universities and the first attempts to join the European Community. In The Legacy of the Golden Age , a uniquely well-qualified team of economists and policy-makers examine the conditions that enabled the boom to last so long, and the factors that finally brought it to an end. The economic problems that had developed by 1970 are still very much on the agenda and the book concludes by assessing the extent to which policy mistakes in the 1960s were responsible for these problems.
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