Final answer:
The Peace Corps was founded in 1961 during the 1960s, which was characterized by efforts toward social change and the dynamics of the Cold War. It was a part of President Kennedy's New Frontier policy and aimed to promote American values and democracy in developing countries, countering Soviet influence.
Step-by-step explanation:
The Peace Corps was founded during the 1960s, specifically in the year 1961, under President John F. Kennedy's administration. This was an era marked by hopes for social change and an impassioned Cold War climate. The initiative was part of Kennedy's broader New Frontier policy which aimed to invigorate American internationalism and democratic values in the face of growing communist influence. The Peace Corps was designed to send idealistic American volunteers, such as teachers and health care workers, to provide services in developing countries, thereby boosting U.S. relations with these nations and promoting democracy, particularly in Latin America.