In rather stylized terms, such accounts frequently counterpose the supposedly closed national economies of the advanced liberal democracies until the 1960s and 1970s with the open integrated world economy which, they suggest, has developed
subsequently. In the former, closed national economic world, competitiveness is of no great consequence, since only a relatively small proportion of GDP is traded and domestic consumption can be assumed to be satisfied by domestic production
thereby facilitating a series of domestic management techniques such as Keynesianism.