the late 1970s boom); and in others due to the emergence of powerful new trading partners (e.g. the development of Japan in the 1960s and the development of China and India recently). The second point is that the overall impact of each boom was to strengthen the economy.
Increased investment in mining, higher income from mining activities, and the need for increased infrastructure to service the mines all worked in this direction. Also, each boom had high, or increasing, population growth in its early years which added to the economic momentum.