So the economic standard envisioned for the New Global View (NGV) by the planners and seers of the day was naturally expected to be more like some kind of trade-off between the roaring twenties and the great depression of the thirties, which was the only life experience they had to draw upon.
 
In fact there was a very real concern as to how to avoid plunging back into a pre-war global depression once the millions of soldiers, sailors and airmen returned home.
 
Well, a very astute promotion of two radically new ideas saved the day: living on credit (borrowing on one’s future worth); and creation of demand for manufactured goods and services for the sake of convenience.  It was an ingenious, and daring, new departure from traditional average American pay-as-you-go austerity, which had been reinforced greatly during the Great Depression and then the war years.  

Both credit and convenience have become intrinsic expectations, a birth-right even, for the American generations that have grown up in the last fifty years.  Credit has become a potential problem (See a backgrounder in The Confidence Game - Part 2 ) for our economy.  And convenience, which has spawned the throwaway culture, threatens our environment.  These expectations for the other 95% non-American population of the globe cannot be met, and therein lie the seeds of destruction for the NGV in it original form.
  
The rest is history for us.  We of course can see clearly the yawning gap between the new American middle class that emerged post-WWII as it raced ahead, and much of the rest of the world.  Hind-sight, as they say, is 20/20.
 
Unfortunately for the American middle class, today’s power elite sees them as an obstacle to leveling the playing in a way that is advantageous to it.

To be continued …
 
References:
The Rise and Fall of the American Middle Class: The Big Idea.
The Rise and Fall of the American Middle Class: A Faulty Foundation.