The Retreat of Empires and the Global Advance of the Market
The Retreat of Empires and the Global Advance of the Market
This chapter places the United States in the 1970s in the context of world history. Because of the diversity of the Earth's societies in political and social development, all nations and peoples in this era did not march in lockstep with each other; as the Cold War and other conflicts revealed, trends around the globe at the time seemed to be heading in very different directions. But in retrospect, the chapter reveals the 1970s American story of moving simultaneously toward greater egalitarianism and toward greater faith in the free market fit with a similar pattern taking shape around the world, one emphasizing human rights and national self-determination, on the one hand, and the declining legitimacy of socialism and government management of economies, on the other.
Keywords: world history, political development, social development, human rights, imperialism, national self-determination, socialism, egalitarianism, free market
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