Final answer:
The gaps between industrial countries' living standards have decreased over the post-war era, although disparities remain. Countries that invested in their economies post WWII, like Japan and West Germany, became economic powerhouses.
Step-by-step explanation:
Over the post-war era, the gaps between industrial countries' living standards have decreased. Although disparities remain, the period after World War II saw significant economic growth and development for many countries.
In the aftermath of the war, countries like Japan and West Germany invested heavily in their economies, resulting in rapid industrial production and economic growth. This led to them becoming economic powerhouses in their respective regions by the 1970.
However, it is important to note that the Industrial Revolution initially increased disparities, as some nations experienced significant economic growth while others, especially in Africa and Asia, lagged behind.
The Industrial Revolution greatly widened the economic gap between industrialized and non-industrialized nations. The most developed economies had about 2.4 times the GDP per capita of the poorest economies in 1870, and this increased to 4.2 times by 1960.
Despite these historical inequalities, the trend after the Second World War has been one of narrowing disparities, with many countries experiencing improvements in living standards and economic growth.