ABSTRACT
The period from the end of the 1940s to the beginning of the 1970s was one of very strong growth throughout the Western world. It is sometimes referred to as the ‘golden years’.1 Growth in Sweden was faster than in most other Western countries. In real GNP the growth rate was 3.3 per cent a year from 1951 to 1954, 3.4 per cent from 1956 to I960, 5.2 per cent from 1961 to 1965 and 4.1 per cent from 1966 to 1970. After this period, growth moderated somewhat and after 1975 fell to barely 2 per cent a year.
