It formally began following the end of the British Mandate for Palestine at midnight on 14 May 1948; the Israeli Declaration of Independence had been issued earlier that day, and a military coalition of Arab states entered the territory of British Palestine in the morning of 15 May.
Sam Walton Opens First Walmart
Wal-Mart was founded by Sam Walton in Rogers, Arkansas, in 1962 and focused its early growth in rural areas, thereby avoiding direct competition with retailing giants such as Sears and Kmart.
Israeli-Palestine Conflict Begins
The history of the Israeli–Palestinian conflict began with the establishment of the state of Israel in 1948. This conflict came from the intercommunal violence in Mandatory Palestine between Israelis and Arabs from 1920 and erupted into full-scale hostilities in the 1947– 1948 civil war.
Six Day War
The Six Days War, also known as the June War or Arab-Israeli War, happened between June 5-10, 1967. The conflict involved Israel and the Arab countries, Syria, Egypt, Jordan, and Iraq, supported by Kuwait, Saudi Arabia, Algeria, and Sudan.
On April 3, 1973, Martin Cooper, a Motorola researcher and executive, made the first mobile telephone call from handheld subscriber equipment, placing a call to Dr. Joel S. Engel of Bell Labs, his rival. The prototype handheld phone used by Dr.
OPEC Oil Embargo
The OPEC oil embargo was an event where the 12 countries that made up OPEC stopped selling oil to the United States. The embargo sent gas prices through the roof. Between 1973-1974, prices more than quadrupled. The embargo contributed to stagflation.
Bill Gates Starts Microsoft
Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975, to develop and sell BASIC interpreters for the Altair 8800. It rose to dominate the personal computer operating system market with MS-DOS in the mid-1980s, followed by Microsoft Windows.
Steve Jobs Starts Apple
Apple Computers, Inc. was founded on April 1, 1976, by college dropouts Steve Jobs and Steve Wozniak, who brought to the new company a vision of changing the way people viewed computers. Jobs and Wozniak wanted to make computers small enough for people to have them in their homes or offices.
Community Reinvestment Act of 1977
The Community Reinvestment Act , enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income neighborhoods.
Camp David Accords
The Camp David Accords comprise two separate agreements: "A Framework for Peace in the Middle East" and "A Framework for the Conclusion of a Peace Treaty between Egypt and Israel", the second leading towards the Egypt–Israel Peace Treaty signed in March 1979
Egypt-Israel Peace Treaty
Egypt agreed to leave the area demilitarized. The agreement also provided for the free passage of Israeli ships through the Suez Canal, and recognition of the Strait of Tiran and the Gulf of Aqaba as international waterways. The agreement notably made Egypt the first Arab state to officially recognize Israel.
Iran Hostage Crisis (1979-1981)
On November 4, 1979, a group of Iranian students stormed the U.S. Embassy in Tehran, taking more than 60 American hostages. The students set their hostages free on January 21, 1981, 444 days after the crisis began and just hours after President Ronald Reagan delivered his inaugural address.
Its initiators called it the Conservative Resurgence while its detractors labeled it the Fundamentalist Takeover. It was launched with the charge that the seminaries and denominational agencies were dominated by liberals. The movement was primarily aimed at reorienting the denomination away from a liberal trajectory.
'Trickle Down Economics”
Trickle-down economics, or “trickle-down theory,” states that tax breaks and benefits for corporations and the wealthy will trickle down to everyone else. It argues for income and capital gains tax breaks or other financial benefits to large businesses, investors, and entrepreneurs to stimulate economic growth.
Ronald Reagan (1981- 1989)
Ronald Wilson Reagan was an American politician who served as the 40th president of the United States from 1981 to 1989 and became a highly influential voice of modern conservatism. Reagan was raised in a low-income family in small towns of northern Illinois.
“Mr. Gorbachev, Tear Down This Wall!”
President Reagan challenges Gorbachev to "Tear down this wall" On this day in 1987, in one of his most famous Cold War speeches, President Ronald Reagan challenges Soviet Leader Mikhail Gorbachev to “tear down” the Berlin Wall, a symbol of the repressive Communist era in a divided Germany.
End of Cold War
During 1989 and 1990, the Berlin Wall came down, borders opened, and free elections ousted Communist regimes everywhere in eastern Europe. In late 1991 the Soviet Union itself dissolved into its component republics. With stunning speed, the Iron Curtain was lifted and the Cold War came to an end.