The Lost Decades
Not all decades are created equal. Oil crises, debt crises, Asian miracles, and the China shock—see how growth patterns shifted dramatically across six decades of economic history.
Decade by Decade
The Golden Age
Post-war reconstruction drives unprecedented growth in Europe and Japan. Bretton Woods provides monetary stability. Decolonization reshapes Africa and Asia.
5.1% global median growthOil Shocks
OPEC embargo (1973) and Iranian Revolution (1979) trigger stagflation. Latin America borrows heavily. NICs begin their ascent.
Oil prices rise 10×The Lost Decade
Volcker shock raises interest rates. Latin America and Africa collapse under debt. East Asia (except Philippines) accelerates.
Latin America: -0.3% medianTransition & Crisis
Soviet collapse. Asian Financial Crisis (1997). China joins WTO negotiations. Washington Consensus reforms spread.
Former USSR: -4.2% medianThe Great Moderation
China integration boosts commodity exporters. BRICS rise. Global Financial Crisis (2008) ends the boom.
Sub-Saharan Africa: +2.8%Post-Crisis Recovery
Uneven recovery from GFC. European debt crisis. Commodity super-cycle ends. Automation anxieties rise.
Slowest decade since 1980s