Part 4/16:
During the period known as the Les Trente Glorieuses—the thirty glorious years from 1945 to 1973—France's economy thrived with annual growth averaging around 5%. Unemployment hovered around 2%, and the welfare state expanded rapidly, buoyed by full employment and a booming economy. The government adopted a strategic form of capitalism, derism, where the state planned key sectors—industry, energy, banking—while encouraging private innovation in others. Public investments in aerospace, automotive, and nuclear energy positioned France as a sovereign industrial competitor.