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The post –Cold War era is a period of history that follows the end of the Cold War, which represents history after the dissolution of the Soviet Union in December 1991. This period saw many former Soviet republics become sovereign nations, as well as the introduction of market economies in eastern Europe.
Job growth remained weak at first, hampered by mass layoffs in defense-related industries following the end of the Cold War. [6] Construction hiring was also weak, and real estate values subdued, following a period of overbuilding in the 1980s. [7] Economic growth solidified by 1993, and home prices rebounded starting in 1995.
The Era of Stagnation in the mid-1970s was triggered by the Nixon Shock and aggravated by the war in Afghanistan in 1979 and led to a period of economic standstill between 1979 and 1985. Soviet military buildup at the expense of domestic development kept the Soviet Union's GDP at the same level during the first half of the 1980s. [ 78 ]
The Cold War defined the political role of the United States after World War II. By 1989, the United States had military alliances with 50 countries and 1.5 million troops posted abroad in 117 countries, which institutionalized a global commitment to a huge permanent peacetime military-industrial complex and the large-scale military funding of ...
This economic miracle was the result of post-World War II Japan and West Germany benefitting from the Cold War.The American government reformed Japanese society during the occupation of Japan, making political, economic and civic changes.
The American economy grew dramatically in the post-war period, expanding at a rate of 3.5% per year between 1945 and 1970. During this period of prosperity, many incomes doubled in a generation, described by economist Frank Levy as "upward mobility on a rocket ship."
From the end of World War II to the mid-1970s, the economy of the Eastern Bloc steadily increased at the same rate as the economy in Western Europe, with the non-reformist Stalinist nations of the Eastern Bloc having a stronger economy than the reformist-Stalinist states. [217]
The recession of 1958, also known as the Eisenhower Recession, was a sharp worldwide economic downturn in 1958. [1] The effect of the recession spread beyond the United States to Europe and Canada, causing many businesses to shut down. [2] Officially, recessionary circumstances lasted from the middle of 1957 to April 1958. [3]