the course of the 20th century, adopt the economic policies of the Washington Consensus, sometimes against the wishes of their populations. The economic force of the US was powerful at the end of the century due to it being by far the largest economy in the world. The US had large resources of minerals, energy resources, metals, and timber, a large and modernized farming industry and large industrial base. The United States dollar is the dominant world reserve currency under the Bretton Woods system. US systems were rooted in capitalist economic theory based on supply and demand, that is, production determined by customers' demands. The US was allied with the G7 major economies. US economic policy prescriptions were the "standard" reform packages promoted for crisis-wracked developing countries by Washington, DC-based international institutions such as the International Monetary Fund (IMF), World Bank, as well as the US Treasury Department. The military of the United States was a naval-based advanced military with by far the highest military expenditure in the world. The United States Navy was the world's largest navy, with the largest number of aircraft carriers, bases all over the world (particularly in an incomplete "ring" bordering the Warsaw Pact states to the west, south and east). The US had the largest nuclear arsenal in the world during the first half of the Cold War, one of the largest armies in the world and one of the two largest air forces in the world. Its powerful military allies in Western Europe (the North Atlantic Treaty Organization states) had their own nuclear capabilities. The US also possessed a powerful global intelligence network in the Central Intelligence Agency. The cultural effect of the US, often known as Americanization, is seen in the influence on other countries of US music, TV, films, art, and fashion, as well as the desire for freedom of speech and other guaranteed rights its residents enjoy. US pop stars such as Elvis Presley, Michael Jackson, and Madonna have become global celebrities. Criticism and usage 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 2003 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 from the University of Illinois