"A radically different world order was established after Word War 2, based on the Bretton Woods institutions (UN, IMF, World Bank, ...), the dissolution of separate European empires, and Pax Americana. This new world system can be described as collective imperialism, with the Pentagon acting as imperial enforcer in the 'Free World' on behalf of Western capital generally. This new global regime opened the way for the greatest growth period in history, while at the same time removing the motivation for wars among European powers."

An interesting historical and political analysis by Richard K. Moore right here.