This is the economic phase known as the “Long Boom,” characterized by a very long economic growth in GDP and jobs. The term “Long Boom” is sometimes used to describe the period from 1947 to 1973, which ended with the Oil Crisis. A subsequent or contemporaneous phase, depending on the definition, is the one from 1983 to 2006, which is called the “Great Moderation” because it was characterized by a significant increase in government and consumer debt.
