“Age of Extremes" delivers its fundamental argument in the form of a periodisation. The ‘short 20th century’ between 1914 and 1991 can be divided into three phases. The first, ‘The Age of Catastrophe’, extends from the slaughter of the First World War, through the Great Depression and the rise of Fascism, to the cataclysm of the Second World War and its immediate consequences, including the end of European empires. The second, ‘The Golden Age’, stretching approximately from 1950 to 1973, saw historically unprecedented rates of growth and a new popular prosperity in the advanced capitalist world, with the spread of mixed economies and social security systems; accompanied by rising living standards in the Soviet bloc and the ‘end of the Middle Ages’ in the Third World, as the peasantry streamed off the land into modern cities in post-colonial states. The third phase, ‘Landslide’, starting with the oil crisis and onset of recession in 1973, and continuing into the present, has witnessed economic stagnation and political atrophy in the West, the collapse of the USSR in the East, socio-cultural anomie across the whole of the North, and the spread of vicious ethnic conflicts in the South. The signs of these times are: less growth, less order, less security. The barometer of human welfare is falling.”