Is Hegels' philosphy of history valid?

The question as to whether Hegel's Philosophy of History is valid has been a widely debated topic amongst Philosophers, Historians and many more since his death in 1831. From beginning to end, the Lectures on the Philosophy of History have been under critical scrutiny from a variety of interpretations. Joseph Mc Carney acknowledges the failure of Hegel's Philosophy of History to preserve itself as a coherent entity, "from the mid 1930's it began to split into …

…democracy to be it. Finally Francis Fukuyama believes that social democracy is the end of history as the "twin principles of liberal democracy and the market economy-that is, in both the political and economic- the struggle for freedom and recognition has in principle been won." (Spencer and Krauze, 168:1996) However we must accept here Hegel's view that we are only children of our time and there could be more progression towards freedom just around the corner.