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Pax Americana [1] [2] [3] (Latin for ' American Peace ', modeled after Pax Romana and Pax Britannica), also called the "Long Peace", is a term applied to the concept of relative peace in the Western Hemisphere and later in the world after the end of World War II in 1945, when the United States [4] became the world's dominant economic, cultural, and military power.
During the recession, there was an extremely sharp decline in industrial production. From May 1920 to July 1921, automobile production declined by 60% and total industrial production by 30%. [13] At the end of the recession, production quickly rebounded. Industrial production returned to its peak levels by October 1922.
[41] [48] [51] [52] [53] A corvée system of forced labor was used by the United States for infrastructure projects, that resulted in hundreds to thousands of deaths. [ 48 ] [ 53 ] Under the occupation, most Haitians continued to live in poverty, while American personnel were well-compensated. [ 54 ]
The word "pax" together with the Latin name of an empire or nation is used to refer to a period of peace or at least stability, enforced by a hegemon, a so-called Pax imperia ("Imperial peace"). The following is a list of periods of regional peace, sorted by alphabetical order.
"Long Peace" is a term for the unprecedented historical period of relative global stability following the end of World War II in 1945 to the present day. [1] [2] The period of the Cold War (1947–1991) was marked by the absence of major wars between the superpowers of the period, the United States and the Soviet Union.
Since the 19th century, the United States government has participated and interfered, both overtly and covertly, in the replacement of many foreign governments. In the latter half of the 19th century, the U.S. government initiated actions for regime change mainly in Latin America and the southwest Pacific, including the Spanish–American and Philippine–American wars.
The term was coined by Time publisher Henry Luce to describe what he thought the role of the United States would be and should be during the 20th century. [6] Luce, the son of a missionary, in a February 17, 1941, Life magazine editorial urged the United States to forsake isolationism for a missionary's role, acting as the world's Good Samaritan and spreading democracy. [7]
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.