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The War Powers Resolution (also known as the War Powers Resolution of 1973 or the War Powers Act) (50 U.S.C. ch. 33) is a federal law intended to check the U.S. president 's power to commit the United States to an armed conflict without the consent of the U.S. Congress. The resolution was adopted in the form of a United States congressional ...
The post–World War II economic expansion, also known as the postwar economic boom or the Golden Age of Capitalism, [1][2] was a broad period of worldwide economic expansion beginning with the aftermath of World War II and ending with the 1973–1975 recession. [1] The United States, the Soviet Union and Western European and East Asian ...
e. In economics, stagflation (or recession-inflation) is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. Stagflation, once thought impossible, [1] poses a dilemma for economic policy, as measures to reduce inflation may exacerbate unemployment.
v. t. e. Hegemonic stability theory (HST) is a theory of international relations, rooted in research from the fields of political science, economics, and history. HST indicates that the international system is more likely to remain stable when a single state is the dominant world power, or hegemon. [1] Thus, the end of hegemony diminishes the ...
After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long-term effects on the global economy as well as on global politics. [4] The 1973 embargo later came to be referred to as the "first oil shock" vis-à-vis the "second oil shock" that was the 1979 oil crisis, brought upon by the Iranian Revolution.
A great power is a sovereign state that is recognized as having the ability and expertise to exert its influence on a global scale. Great powers characteristically possess military and economic strength, as well as diplomatic and soft power influence, which may cause middle or small powers to consider the great powers' opinions before taking actions of their own.
The International Emergency Economic Powers Act (IEEPA), Title II of Pub. L. Tooltip Public Law (United States) 95–223, 91 Stat. 1626, enacted October 28, 1977, is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole ...
The Four Power Agreement on Berlin, also known as the Berlin Agreement or the Quadripartite Agreement on Berlin, was agreed on 3 September 1971 by the four wartime Allied powers, represented by their ambassadors. The four foreign ministers, Sir Alec Douglas-Home of the United Kingdom, Andrei Gromyko of the Soviet Union, Maurice Schumann of ...