American Century American Century is a characterization of the 20th century as being largely dominated by the United States in political , economic and cultural terms . Critical to the American Century was US control of the world ' s oil resources . The United States ' influence grew throughout the 20th century , but became especially dominant after the end of World War II , when only two superpowers remained , the United States and the Soviet Union . After the dissolution of the Soviet Union in 1991 , the United States remained the world ' s only superpower , and became the hegemon , or what some have termed a hyperpower . Origin of the phrase . The term was coined by " Time magazine " publisher Henry Luce to describe what he thought the role of the United States would be and should be during the 20th century . Luce , the son of a missionary , in a February 17 , 1941 " Life magazine " magazine editorial urged the United States to forsake isolationism for a missionary ' s role , acting as the world ' s Good Samaritan and spreading democracy . He called upon the US to enter World War II to defend democratic values : Throughout the 17th century and the 18th century and the 19th century , this continent teemed with manifold projects and magnificent purposes . Above them all and weaving them all together into the most exciting flag of all the world and of all history was the triumphal purpose of freedom . < br > It is in this spirit that all of us are called , each to his own measure of capacity , and each in the widest horizon of his vision , to create the first great American Century . According to David Harvey , Luce believed " the power conferred was global and universal rather than territorially specific , so Luce preferred to talk of an American century rather than an empire . " In the same article he called upon United States " to exert upon the world the full impact of our influence , for such purposes as we see fit and by such means as we see fit . " Early characteristics . Beginning at the end of the 19th Century , with the Spanish - American War in 1898 and the Boxer Rebellion , the United States began to play a more important role in the world beyond the North American continent . The government adopted protectionism after the Spanish - American War to develop its native industry and built up a powerful navy , the " Great White Fleet " . When Theodore Roosevelt became President in 1901 , he accelerated a foreign policy shift away from isolationism and towards foreign involvement , a process which had begun under his predecessor William McKinley . For instance , the United States fought the Philippine - American War against the First Philippine Republic to solidify its control over the newly acquired Philippines . In 1904 , Roosevelt committed the United States to building the Panama Canal , creating the Panama Canal Zone . Interventionism found its formal articulation in the 1904 Roosevelt Corollary to the Monroe Doctrine , proclaiming a right for the United States to intervene anywhere in the Americas , a moment that underlined the emergent US regional hegemony . The United States also played an important role in World War I and World War II . Pax Americana . Pax Americana represents the relative liberal peace in the Western world , resulting from the preponderance of power enjoyed by the United States of America starting around the turn of the 20th century . Although the term finds its primary utility in the late 20th century , it has been used in other times in the 20th century . Its modern connotations concern the peace established after the end of World War II in 1945 . Post - 1945 characteristics . The " American Century " existed through the Cold War and demonstrated the status of the United States as one of the world ' s two superpowers . After the Cold War , the most common belief held that only the United States fulfilled the criteria to be considered a superpower . America ' s geographic area composed the fourth largest country in the world , with an area of approximately 9 . 37 million km² . America ' s demographic exhibited a population of 248 . 7 million in 1990 , at that time the fourth largest on Earth . Regarding the Mid - to - Late - 20th Century characteristics , America ' s political status was a strong capitalist federation / constitutional republic . America had a permanent seat on the UN Security Council plus two allies with permanent seats , France and United Kingdom . America had strong ties with Western Europe , Latin America , British Commonwealth , and several East Asian countries ( Korea , Taiwan , Japan ) . America wielded influence by supporting right - wing dictatorships in undeveloped countries and democracies in developed countries . The American Century doesn ' t just include the political influence of the United States . As to the United States ' economic influence , many states around the world would over the course of the 20th century adopt the economic policies of the Washington Consensus . America ' s economic force was powerful at the end of the century due to America being by far the largest economy in the world . America had large resources of minerals , energy resources , metals , and timber , a large and modernized farming industry and large industrial base . US $ was the dominant world reserve currency under Bretton Woods . American systems were rooted in the western economic theory based on supply and demand : production determined by customers ' demands . America was allied with G7 major economies . American economic policy prescriptions were the " standard " reform packages promoted for crisis - wracked developing countries by Washington , DC - based institutions such as the International Monetary Fund ( IMF ) , World Bank and the US Treasury Department . America ' s military strength was an essentially naval - based advanced military with the highest military expenditure in the world . America had the world ' s largest navy with largest number of aircraft carrier s , bases all over the world , particularly in an incomplete " ring " bordering the Warsaw Pact to the West , South and East . America had the largest nuclear arsenal in the world during the first half of the Cold War . America had one of the largest armies in the world . America had one of the two largest air forces in the world . America ' s powerful military allies in Western Europe ( NATO ) had their own nuclear capabilities . America possessed a global Intelligence network ( CIA ) . America ' s cultural impact is seen in the influence of music , TV , films , art , and fashion , as well as freedom of speech and other guaranteed rights for residents . American pop stars such as Elvis Presley , Michael Jackson , and Madonna have become global celebrities . Criticism . Critics have condemned Luce ' s " jingoistic missionary zeal . " Others have noted the end of the 20th Century and the American Century , most famously the late gonzo journalist Hunter S . Thompson who titled his autobiography " Kingdom Of Fear : Loathsome Secrets of A Star Crossed Child in the Last Days of the American Century " . With the advent of the new millennium , critics have stated that it is a matter of debate whether America ' s influence is leading it to be a hegemon or if it is losing its superpower status , especially in relation to China ' s rise .