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After the Second World War the U.S. emerged as an industrial power and remained the world's dominant economic force for a number of years. Europe, due to heavy infrastructure and capital damage brought about by the war, was in no position to challenge the U.S. in any manufacturing or industrial venture. Thus after the war the U.S. enjoyed its longest period of economic expansion in history. This economic boom was to continue, off and on, well into the early 1970s.

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