Changes

Meanwhile, the world war of 1914 – 1918 had propelled the United States to global [[economic]], [[financial]], and [[cultural]] preeminence. The [[dollar]] became a major international medium of exchange, and [[American]] [[music]], [[literature]], and [[consumer]] products achieved worldwide acclaim. But with the United States self-isolated, the [[great power]]s of Europe weakened, and agitation for independence in their overseas [[empire]]s mounting, the world was in a state of increasing disorder – in transition to something yet unknown.

Meanwhile, the world war of 1914 – 1918 had propelled the United States to global [[economic]], [[financial]], and [[cultural]] preeminence. The [[dollar]] became a major international medium of exchange, and [[American]] [[music]], [[literature]], and [[consumer]] products achieved worldwide acclaim. But with the United States self-isolated, the [[great power]]s of Europe weakened, and agitation for independence in their overseas [[empire]]s mounting, the world was in a state of increasing disorder – in transition to something yet unknown.

In 1929, the American [[economy]] succumbed to mass speculation in its unregulated [[capitalism|capital markets]], blunders by the [[Federal Reserve]], and [[protectionist]] measures that kicked off a series of [[trade war]]s. The worldwide [[Great Depression]] generated by the knock-on effects of these developments precipitated the replacement of [[democracy]] with [[militarism]] in [[Germany]] and [[Japan]], which joined [[Italy]] in developing forms of "[[fascism]]" – [[dictatorial]] regimes driven by [[social Darwinist]] theories of [[racial]] supremacy, obsessions with territorial expansion, and [[government]]-guided [[corporatist[[ [[economies]].

In 1929, the American [[economy]] succumbed to mass speculation in its unregulated [[capitalism|capital markets]], blunders by the [[Federal Reserve]], and [[protectionist]] measures that kicked off a series of [[trade]] [[war]]s. The worldwide [[Great Depression]] generated by the knock-on effects of these developments precipitated the replacement of [[democracy]] with [[militarism]] in [[Germany]] and [[Japan]], which joined [[Italy]] in developing forms of "[[fascism]]" – [[dictatorial]] regimes driven by [[social Darwinist]] theories of [[racial supremacy]], obsessions with territorial expansion, and [[government]]-guided [[corporatist]] [[economy|economies]].

==Cold War (1947 – 1989)==

==Cold War (1947 – 1989)==