blatantninja
Resident Redneck Facist
The interesting feature about growth in the "fat" post-WW2 years is that it was driven by two things: economies of scale and middle class that was getting bigger and richer -- and was therefore able to consume what the economies of scale were producing. You can't have that growth model in a highly inegalitarian society -- there won't be enough people with discretionary spending power that it makes sense to produce a hundred million Chevrolets.
Agreed, and I wholly support incentives that help grow the middle class.
Health insurance and pensions -- and, especially, steady and predictable wage growth -- were significant factors, since they made it possible for the middle class to consume. They were an essential part of the system, and with the unions, they were represented in the negotiations that set the wages, pensions, and health plans.
I disagree with the pensions aspect. Mainly because neither before or since the advent of pensions have Americans shown significant desire to save money towards retirement. The only thing pensions (and social security) really did was decrease the likelihood that for a few years during your prime income earning years that your parents would be living with and supported by you.
I agree that health insurance helped as well. A healthy work force is a good thing. One of the problems though is that our health system has evolved to include far more than basic healthcare, which has the two fold effect of reducing the number of people that can afford healthcare and also becoming a drag on productivity, rather than a boon to it.