Answer:
The Cold War, which lasted from the late 1940s to the early 1990s, had significant economic, social, and political effects. Economically, it led to the arms race between the United States and the Soviet Union, which diverted resources towards military spending and hindered investment in other sectors. Socially, the Cold War created a climate of fear and suspicion, resulting in the spread of McCarthyism in the United States and the suppression of civil liberties in both superpowers. Politically, it divided the world into two competing blocs, with the United States leading the capitalist Western bloc and the Soviet Union leading the communist Eastern bloc, which caused proxy wars, destabilized regions, and strained international relations. Ultimately, the end of the Cold War brought about significant geopolitical transformations and marked the triumph of capitalism and liberal democracy.
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