The 1980s brought major socioeconomic change due to advances in technology, and a worldwide move away from planned economies and towards laissez-faire capitalism. Definitive icons of the 1980s include Michael Jackson, Madonna, and AC/DC.
The 1950s was the decade that saw the birth of the 'suburban dream'. It was an era dominated by full employment, a good standard of living, family- focused values and the 'suburban dream' of a house of one's own with the latest labour-saving appliance.
Also known as the Jazz Age, the decade of the 1920s featured economic prosperity and carefree living for many. The decade began with a roar and ended with a crash. The 1920s was a decade of change, when many Americans owned cars, radios, and telephones for the first time.
The growth of the Internet contributed to globalization during the decade, which allowed faster communication among people around the world. The economic growth of the 2000s had considerable social, environmental, and mass extinction consequences, and raised demand for diminishing energy resources. Economic growth was still vulnerable, however, as demonstrated by the financial crisis of 2007–2008.