1. Growth of Trade and Incomes in the Western World 📈🌍

• The Bretton Woods system led to unprecedented growth in trade and incomes for Western industrial nations and Japan. 🇺🇸🇯🇵
• World trade grew over 8% annually between 1950 and 1970. 📊🌍
• Incomes in these countries grew at nearly 5% annually during the same period. 💰📈
• This growth was mostly stable, with few large fluctuations. 📉📅

2. Stable Unemployment and Economic Growth 🏭📉

• During this time, unemployment rates remained low, often averaging less than 5% in most industrial countries. 👷‍♂️💼
• The stability in unemployment rates reflected steady economic conditions in these countries. ⚖️🔄

3. Technology Spread and Development in Emerging Countries 🌍💡

• There was a global spread of technology and enterprise during these decades. 🌏💻
• Developing countries aimed to catch up with advanced industrial nations, leading to a rush for modernization. 🚀💡
• They invested vast amounts of capital in importing industrial plants and modern technology. 💸🏭