An economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.
Balance of Power after the Cold War.
After the second world war, a persistent political conflict between the United States, the Soviet Union, and their allies came to be known as the Cold War.
What is the Cold War?
After the second world war, a persistent political conflict between the United States, the Soviet Union, and their allies came to be known as the Cold War. George Orwell gave this rivalry between the two superpowers its first term in a 1945 article.
The idea of "balance of power" is crucial for analyzing the cold war, which in principle was successful in preventing any major wars between 1945 and 1989. Communism vs democracy, USSR and its allies versus USA and its allies, were concepts based on ideologies. A situation in which peace is guaranteed by upholding an equilibrium of alliances between major countries is one in which there is a balance of power. Alliances, territory (spheres of influence), and military capacities were the three factors that evolved during the cold war and contributed to the balance of power scenario.
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