Complex sentence: The variant of capitalism used from 1945-1979 was a development of the war economy of World War II. It was a managed market economy rather than a free market economy, and prices in essential markets were determined by government regulations and subsidies rather than competitive markets.
Split into simpler sentences: The variant of capitalism used from 1945-1979 was a development of the war economy of World War II. It was a managed market economy rather than a free market economy. Prices in essential markets were determined by government regulations and subsidies rather than competitive markets.