Recent developments show that many liquids and solids have an approximate "hidden" scale invariance that implies the existence of lines in the thermodynamic phase diagram, so-called isomorphs, along which structure and dynamics in properly reduced units are invariant to a good approximation. This means that the phase diagram becomes effectively one-dimensional with regard to several physical properties. Liquids and solids with isomorphs include most or all van der Waals bonded systems and metals, as well as weakly ionic or dipolar systems. On the other hand, systems with directional bonding (hydrogen bonds or covalent bonds) or strong Coulomb forces generally do not exhibit hidden scale invariance. The article reviews the theory behind this picture of condensed matter and the evidence for it coming from computer simulations and experiments.