The concept of First World originated during the Cold War and included countries that were generally aligned with the West and opposed to the Soviet Union during the Cold War (including all NATO countries). Since the collapse of the Soviet Union in 1991, the definition has instead largely shifted to any country with little political risk and a well functioning democracy, rule of law, capitalist economy, economic stability and high standard of living. Various ways in which modern First World countries are often determined include GDP, GNP, literacy rates and the Human Development Index. In common usage, "First World" refers to the rich nations of the world.
After World War II, the world split into two large geopolitical blocs, separating into spheres of communism and capitalism. This led to the Cold War, during which the term First World was often used because of its political, social, and economic relevance. The term itself was first introduced in the late 1940s by the United Nations. Today, the First World is slightly outdated and has no official definition, however, it was generally thought of as the capitalist, industrial, wealthy and developed countries. This definition included Australia, South Korea, Taiwan, Japan, and most of the countries of North America and Western Europe. In contemporary society, the First World is viewed as countries that have the most advanced economies, the greatest influence, the highest standards of living, and the greatest technology. After the Cold War, these countries of the First World included member states of NATO, U.S.-aligned states, neutral countries that were developed and industrialized, and the former British Colonies that were considered developed. It can be defined succinctly as Europe, plus the richer countries of the former British Empire (USA, Canada, Australia, Singapore, New Zealand, South Africa), Japan, Israel, Taiwan and South Korea. According to Nations Online, the member countries of NATO after the Cold War included: