"Though a wide ocean separates the United States from Europe, yet there are various considerations that warn us against an excess of confidence or security."

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In Europe and the United States the two decades following the Second World War will for long be remembered as a very good time, the time when capitalism really worked. Everywhere in the industrialized countries production increased. Unemployment was everywhere low. Prices were nearly stable. When production lagged and unemployment rose, governments intervened to take up the slack, as Keynes had urged.

— John Kenneth Galbraith