As in earlier editions of this work, Derek Aldcroft presents a succinct and lucid account of the development and problems of the European economy throughout the twentieth century. The text divides into several clearly defined sub-periods: the aftermath of the First World War and reconstruction in the 1920s the depression and recovery of the 1930s the impact of the Second World War and the new division of Europe the postwar boom of the 1950s and 1960s the growth slowdown of the 1970s and the pervasive problems of inflation and unemployment. This new edition incorporates extensive revisions, covering the whole of Europe including Russia and Turkey in Europe, EU enlargement and the relationship between Europe and the United States in the age of globalization. Major themes include how little governments have learned from the experience of the poast, and how difficult it is to generate growth when real growth factors are weak. The European Economy Since 1914 provides an invaluable guide to the major economic changes in both Western and Eastern Europe during the twentieth century.