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The record years ( sv, Rekordåren) is a period in the economy of Sweden, dating from the international post–World War II economic expansion to the
The record years ( sv, Rekordåren) is a period in the economy of Sweden, dating from the international post–World War II economic expansion to the 1973 oil crisis
The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by Saudi Arabia, proclaimed an oil embargo. The embargo was targeted at nations that had su ...
, and largely coinciding with the mandates of prime ministers Tage Erlander
Tage Fritjof Erlander (; 13 June 1901 – 21 June 1985) was a Swedish politician who served as Prime Minister of Sweden from 1946 to 1969. He was the leader of the Swedish Social Democratic Party and led the government for an uninterrupted tenu ...
and earliest years of Olof Palme
Sven Olof Joachim Palme (; ; 30 January 1927 – 28 February 1986) was a Swedish politician and statesman who served as Prime Minister of Sweden from 1969 to 1976 and 1982 to 1986. Palme led the Swedish Social Democratic Party from 1969 until ...
. The concept was originally a satirical
Satire is a genre of the visual, literary, and performing arts, usually in the form of fiction and less frequently non-fiction, in which vices, follies, abuses, and shortcomings are held up to ridicule, often with the intent of shaming or ...
left-wing description of the years 1968–70.
Sweden had maintained neutrality during both world wars, and entered the post-war boom with industrial and demographic advantages. Sweden also received aid from the Marshall Plan
The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred over $13 billion (equivalent of about $ in ) in economic re ...
. Between 1947 and 1974, the Swedish economy grew at an average rate of 12.5% annually. The urban population, living in towns of over 15,000 people, grew from 38% of the total population in 1931 to 74% by 1973. Sustained by an export boom of automobiles, heavy machinery, electronics, shipbuilding, and heavy weapons, the per capita income increased by as much as 2,000%. Sweden had successfully moved into the high-income group of countries by 1955–56.
See also
* History of Sweden (1945–67) * Million Programme * Trente Glorieuses *Japanese post-war economic miracle
The Japanese economic miracle refers to Japan's record period of economic growth between the post-World War II era and the end of the Cold War. During the economic boom, Japan rapidly became the world's second-largest economy (after the Unit ...
* Italian economic miracle
* Wirtschaftswunder
The ''Wirtschaftswunder'' (, "economic miracle"), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the economies of West Germany and Austria after World War II (adopting an ordoliberalism-based social ma ...
References
{{Economic miracle and tiger economy 1940s in Sweden Economic booms Post–World War II economic booms Economic history of Sweden 1940s economic history 1950s economic history 1960s economic history 1970s economic history 1950s in Sweden 1960s in Sweden 1970s in Sweden