In the periods immediately before and after the Second World War, Capitalism was a discredited system.

The Depression and the rise of Capitalist-supported Dictatorships in Europe brought widespread disillusionment. By 1946, with Labour Governments in power, and the Welfare State becoming the order of the day. Socialist ideals seemed to be nearing fruition in the West.

Yet today. Capitalism is, if anything, more strongly entrenched than ever, particularly in those countries which espouse the supposedly Socialist Welfare State.

How has this come about?

Firstly the Post-War recovery and boom have given new impetus to industry and trade, while the increased prosperity stemming from this has meant a wealthier and larger consumer market.

Secondly, vast increases in military expenditure and increased military/scientific research made "necessary" by the War and by the following Cold War, have improved manufacturing processes and vastly expanded industries such as aircraft manufacturing.