Post War (WWII) Economic Reconstruction

My favorite economist, Paul Krugman, has pointed out a number of times recently that the profound increase in American prosperity after WWII took place in a period of high marginal tax rates and powerful labor unions. All true. I'm developing some thoughts about other things that were going on at the time that could have easily led to economic disaster except for some very effective economic planning for the postwar transition. More on that theme later.

I just came across a paper by the economist Brad DeLong comparing the postwar period with the period between WWI and WWII, especially in Europe:

"Another second important factor in making post-World War II economic reconstruction a success, a factor independent of the Keynesian revolution in economic policy, was the fact that post-World War II reconstruction was carried out in the shadow of the interwar period. The political and economic struggle between classes as it had been carried out in Europe between the wars had ended in complete disaster for all. Right-wing factions had wanted low wages, no welfare state, and stable prices; left-wing factions had wanted high wages and an extensive welfare state. The political and economic disruptions that this struggle generated led to fascism and Nazism. Hitler's rise had benefited no one." (Emphasis mine.)

Notice any familiar concepts?