Sure, though I hope you don't mind me giving the cliff note version.
Demographic dividend is spent. (The rate of dependency falls after the introduction of modernity (together with legalised contraception) because of lower birth rates. It later rises again as the population ages a few decades after the drop in birthrates)
Related, precisely because the society on average is old and seems incapable of embracing any kind of new ideas or a change in what its stated ideals and values are. Not only are young people few but they extremely conformist outside of a few designated symbolic kinds of "rebelling" compared to young people in other parts of the world. Oversocialized indeed.
Free higher education and healthcare produced a sort of "social uplift dividend", suddenly the cycle of poverty was broken for a whole bunch of people who where capable of doing all kinds of work, but simply didn't have the opportunity to get the necessary education to do so. After two generations of great results not only has this obviously hit diminishing returns, there are also some indications that we are actually getting less bang for buck on the policies as time continues. Though its hard to say since European society has also shifted away from meritocracy.
Massive destruction of infrastructure and means of production that enabled high demand for rebuilding much of the infrastructure (left half of the bell curve had more stuff to do than otherwise, since the price of the kinds of labour they are capable of was high).
The burden of technological unemployment was not as great as it is today (gwern's arguments regarding its existence where part of what changed my opinion away from the default view most economists seem to take. After some additional independent research I found myself not only considering it very likley but looking at 20th century history from an entirely fresh perspective ).
Event though there are some indications youth in several European countries is more trusting, the general trend seem to still be a strong move away from high trust societies.
Thank you. Cliff notes is fine. What do you expect social democracies to turn into?
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