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Industrial Revolution
This was the change between a manual-labor based economy to a machine-based manufacturing economy. It started with textile industries, which was the development of iron-making techniques and increased use of refined coal. This allowed for more easier inventions, such as the train for transportation. Industrial Revolution
History.com
http://www.history.com/topics/industrial-revolution -
"The Jungle" is published
This was an article from a man named Upton Sinclair who investigated the conditions of meat warehouses. The working conditions were dangerous, and unsanitary. The machines had no safety precautions and many workers were harmed. There was blood everywhere and nothing was clean enough to work comfortably in. After this was published, it changed how industries run and added safety and cleanliness to their business. The Jungle
Jon Blackwell
http://www.capitalcentury.com/1906.html -
Ford introduces the assembly line
Introduced by Henry Ford, this was the first manufacturing process in which parts are added to a product in a sequential manner to create a finished product much faster than handcrafting-methods. In particular, Ford brought this about with his vehicles (Model-T), as each man would have one specific part of the car to put on. This was a huge improvement in both manufacturing and maintence of produced goods. People and Discoveries
pbs.org
http://www.pbs.org/wgbh/aso/databank/entries/dt13as.html -
Federal Reserve is formed
This is the central banking system in the United States. It was with the enactment of the Federal Reserve Act in response to a series of fancial panics. It has three key objectives: Maximum employment, stable prices, and moderate long-term interest rates. The Start of The Federal Reserve How the Federal Reserve was Formed
Investopedia
http://www.investopedia.com/articles/economics/08/federal-reserve.asp#axzz2LjxbG5GV -
Period: to
The Great Crash of 1929
Over six desperate days in October 1929 when shares crashed by a third on the New York Stock Exchange. More than $25 billion in individual wealth was lost. Later, three thousand banks failed, taking people's savings with them.
The Great Crash
BBC
http://www.bbc.co.uk/programmes/b00h9xh8 -
Period: to
Great Depression
This was the severe economic depression in the decade preceding World War II. It originated in the US after the fall in stock prices. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the US rose to 25%.
Great Dression
Modern American Poetry
http://www.english.illinois.edu/maps/depression/overview.htm -
The First Cell
This system was introduced in 6-17-1946. Also known as Mobile Radio-Telephone Service. This was the founding father of the mobile phone. This system required operator assistance in order to complete a call. These units do not have direct dial capabilities. Also created by AT&T. -
Disneyland opens
Disneyland Opening Day
Disneyland opened to the public on July 18th, 1955 with an entrance fee of $1. Over the decades, Disneyland has added attractions and opened the imaginations of millions of children Disneyland opens
Jennifer Rosenberg
http://history1900s.about.com/od/1950s/qt/disneyland.htm -
Minimum Wage
Minimum Wage of $1 an hour was created. -
Eisenhower creates the interstates
National Interstate Defense and Highway Act 1956President Eisenhower signed the Federal-Aid Highway Act of 1956. The Interstate System has now been a part of our culture as it is a transportation and an integral part of the American way of life. This contributed to business, as now there are faster routes for business to business transactions. Eisenhower's American Interstate Highway system
American History magazine
http://www.historynet.com/president-dwight-eisenhower-and-americas-interstate-highway-system.htm -
Bank of America launches first credit card
Bank of America issued its first card called the BankAmericard. Having this card gave people the chance to either pay off their balance or maintain a balance and pay a finace charge. This was the beginning of what is now called "interchange". With paper-based systems becomming cumbersome, automation was pushed as a better way to handle transactions. The history of credit card processes
Gotmerchant.com
http://www.gotmerchant.com/history_of_credit_card_processing.php -
Walmart!
July 2, 1962 the first Walmart was opened in Rogers Ark by Sam Walton. Which now has gone national and number one source for all living goods for many people. -
Equal Pay for Equal Work
The Equal Pay Act of 1963 aimed to abolish wage disparity based on sex. Congress denounced sex discrimination for the reasons that is depresses wages and living standards for employees necessary for health and efficiency, prevents maximum utilization of available labor resources, tends to obstruct commerce, and constitutes an unfair method of competition. Equal Pay/Compensation Discrimination
US Equal Emploment Opportunity Commission
http://www.eeoc.gov/laws/types/equalcompensation.cfm -
The Civil Rights Act
This outlawed major forms of discrimination against racial, ethnic, national and religious minorities, and women. It ended unequal application of voter registration requirements and racial segregation in schools and at the workplace by facilities that served the general public. Civil Rights Act of 1964
National Archives
http://www.archives.gov/education/lessons/civil-rights-act/ -
Southwest Airlines Take Off
Flight Attendants
On June 18, 1971, a Southwest Airlines plane flown by Capt. Emilio Salazar began service out of Love Field. -
Chrysler Bailout
1980 Chrysler Imperial Commercial Faced with collapse and the loss of thousands and thousands of jobs, Chrysler asked the government for help. Five months later, the government responded…favorably. On January 7, 1980, legislation was signed by President Jimmy Carter that provided the bleeding car company with $1.5 billion in loans. In addition, a new chairman, Lee Iacocca, was brought in. -
The Black Monday Crash
During this day, stock markets around the world crashed, shredding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markeys had already declined by a significant margin. Stock markets in the US had fallen 22.68%
Black Monday-Stock Market Crash
Jesse Colombo
http://www.stock-market-crash.net/1987-crash/ -
The savings-and-loan crisis peaks
This was the failure of about 747 out of 3234 savings and loan associations in the United States. This is what made mortgages, cars, and other personal loans to individual members. The total cost for resolving this was $87.9 billion. The remainder of the bailout was paid for by charges on saving and loan accounts, which contributed to the large budget deficit in the early 1990's. Savings and Loan Crises
Bert Ely
http://www.econlib.org
http://www.econlib.org/library/Enc/SavingsandLoanCrisis.html -
Berlin Wall falls
The Fall of The Berlin Wall This triumph was the beginning of market capitalism. Rise and Fall of the Berlin Wall
Jennifer Rosenberg
http://history1900s.about.com/od/coldwa1/a/berlinwall.htm -
Aol creates flate rate charges
AOL Commercial The world's largest online-service provider said it plans to offer a number of new pricing options, Such as, the standard monthly plan will offer unlimited access to the Internet and AOL proprietary content for $19.95, AOL will charge customers who pay for two years in advance $14.95 a month for unlimited access, or $17.95 per month for those who pay one year in advance. http://money.cnn.com/1996/10/29/technology/aol/ -
America declares first case od Mad Cow Disease
The Agriculture Department confirmed the first case of mad cow disease in America on December 23, 2003, in a cow born in Alberta, Canada, in April 1997, only four months before the United States and Canada began banning the use of brain and spinal cord tissue in cattle feed. -
Free Election in Iraq
Iraq holds a free election for the first time in half a century. -
Bush signs housing rescue law
President Bush signs a law sweeping housing bill that aims to boost the struggling housing market and bolster mortgage finance giants Fannie Mae and Freddie Mac. -
Obama signs landmark health care overhaul bill
Barack Obama has signed his revolutionary healthcare reform bill into law at the White House. -
WallStreet goes Under.
U.S. markets were already sharply lower on widespread worries, including the weak job market. But the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets. Stocks plunged their single worst day since the 2008 financial crisis. -
Kodak files Bankruptcy
Unable to attract buyers for its treasure of 1,100 digital imaging patents Kodak was running out of cash. January 19th 2012 they file for chapter 11 bankruptcy.
