1956 to 1975

Economic Timeline (1956-1975)

  • Federal Highway Act of 1965

    Federal Highway Act of 1965
    In June of 1965, United States President Dwight D. Howard singed this law into power. This law authorized the creation of a interstate system and construction over 41,000 miles of highway throughout the United States. This was also the largest public construction project undertaken by the government. This also costed between 25 and 30 billion dollars to build. http://www.history.com/this-day-in-history/president-lyndon-johnson-signs-the-highway-beautification-act
  • The Release of the 1st Computer and Drive

    The Release of the 1st Computer and Drive
    IBM releases the first computer in September of 1956. The machine had a weight of one ton and was about 16 square feet. it was created by Reynold Johnson and his research team. http://www.thepeoplehistory.com/1956.html
  • The Events of October 1956

    The Events of October 1956
    The events of October and November still have a big impact on narrative momentum. The Tragedy of the Hungarian revolution and disgrace of the of the Suez Crisis were closely together from the start. Complexity and pace events left deep impression on the British people and changed history forever. https://www.theguardian.com/world/2006/oct/22/egypt.featuresreview
  • 1956 Increased Living

    1956 Increased Living
    The increase of living standards and the focus on education helped to fuel the increase in college education with 1 in 3 high schools graduate and go off to college. http://www.thepeoplehistory.com/1956.html
  • Bolivia Inflation

    Bolivia Inflation
    Bolivia had been suffering from inflation. The United States is concerned about radicalism in Latin America. United States financial help or aid to Bolivia is higher than any other country to the size of that specific country's population. http://www.fsmitha.com/time/1957.htm
  • European Commission

    European Commission
    Economic cooperation, in the form European Commission for Coal and Steel, developed into the European Economic Community and the European Atomic Energy Community steps away from the narrow nationalism that divided Europe and toward the creation of the European Union. http://www.fsmitha.com/time/1957.htm
  • Sputnik

    World history changed when the Soviet Union launched their 1st ever Sputnik. The size of this was the size of a beach ball. It took almost 100 minutes to orbit the earth on its path. Sputnik also helped with military, political, and scientific developments. http://history.nasa.gov/sputnik/
  • Cost of Living (1957)

    Cost of Living (1957)
    How Much things cost in 1957
    Yearly Inflation Rate USA 3.34%
    Yearly Inflation Rate UK 3.3%
    Average Cost of new house $12,220.00
    Average Monthly Rent $90.00
    Average Yearly Wages $4.550.00
    Cost of a gallon of Gas 24 cents
    Bacon per pound 60 cents
    Eggs per dozen 28 cents
    HI FI Portable Record Player $79.95
    Children's Shoes $5.95 http://www.thepeoplehistory.com/1957.html
  • The Recession of 1958

    The Recession of 1958
    This was fueled by a drop in food orders not carried out by goods and declining demand for raw goods or materials when the recession of 1958 forced over 5 million people and almost 7 percent of the labor force out of work. http://content.time.com/time/photogallery/0,29307,1850639_1780848,00.html
  • VISA Card

    VISA Card
    In the year of 1958, the first ever VISA and American Express cards were released. This is part of the economy because it can produce GDP and people can buy goods easier, they just need to pay it off. http://www.348-409.com/1958flash.html
  • Cost of Living 1958

    Cost of Living 1958
    House= $30,000
    Average Income= $4,600
    Ford Car= $1967-$3929
    Milk= $1.01
    Gas= 24 cents http://www.thepeoplehistory.com/1958.html
  • Unemployment (1959)

    Unemployment (1959)
    Us unemployment reach 1.4 million. Also, Hudson and Nash became known as AMC (American Motors Association). http://www.1959bhsmustangs.com/1959historicalevents.htm
  • Housing and Computers (1960)

    Housing and Computers (1960)
    In the 1960's, the housing and computer industry overpowered automobiles, chemicals, and electricity powered consumer durables, which were leading industries in 1960. http://elcoushistory.tripod.com/economics1960.html
  • Joint Workers (1961)

    Joint Workers (1961)
    On June 6th, 1961, joint workers party up to set up by employers and unions to study ways of de-causualising dock labor. http://ner.sagepub.com/content/19/1/60.extract
  • 5 largest industrial corporations (19620

    5 largest industrial corporations (19620
    In 1962, the 5 largest industrial corporations accounted for over 12 percent of all assets in manufacturing. http://elcoushistory.tripod.com/economics1960.html
  • The Profumo Scandal

    The Profumo Scandal
    On June 5, 1963, British Secretary of war John Profumo resigns his post following revelations that he lied to the House of Commons about his sexual affair with Christine Keller who is known as an alleged prostitute. http://www.history.com/this-day-in-history/profumo-resigns-in-sex-scandal
  • War on Poverty

    War on Poverty
    On March 16th, 1964, President Johnson submitted a plan for his "War on Poverty" initiatives to congress. The proposal helped establish federal programs that are still in use today. http://www.pbs.org/wgbh/americanexperience/features/timeline/1964/
  • African American Voters

    African American Voters
    On January 2nd,1965, King and the SCLC joined the SNCC, the Dallas County Voters League and other African american in a voting rights. SCLC had wanted to focus on their efforts in Selma because they anticipated that the notorious brutality of local law enforcement under Jim Clark. http://www.core-online.org/History/voting_rights.htm
  • The Crash of 1966

    The Crash of 1966
    The crash of 1966 had came after about 2 decades of an uninterrupted economic growth and stock market gains following World War 2. As Vietnam and Johnson's Great Society social programs began to push government spending, the Federal Reserve responded by tightening credit conditions in early 1966. http://www.palisadeshudson.com/2014/01/the-forgettable-crash-of-1966/
  • Parliamentary Elections

    Parliamentary Elections
    in Sierra Leone 4 days have passed since their first parliamentary elections since their independence. The head of their army, General David Lansana, seizes power.
  • Mississippi Tornado Outbreak (1966)

    Mississippi Tornado Outbreak (1966)
    On May 15th 1968, there was a significant and deadly tornado outbreak. The states had been affected include Arkansas, Illinois, Indiana, Iowa, Kansas, Mississippi, etc. The outbreak caused almost 40 tornadoes (39 to be exact) and also produced 2 F5 tornadoes and caused 72 fatalities and over 1,200 injuries, and lots of dollars in damage.
  • Richard Nixon

    Richard Nixon
    In January of 1969, Richard Nixon moved slow on the economy. He avoided people who were calling for wage and price controls and relied on some minor cutting of federal spending during the presidents 1st year. By mid 1970, the inflation rate was 6.5 percent. http://elcoushistory.tripod.com/economics1960.html
  • Mary Tyler Moore (1970)

    Mary Tyler Moore (1970)
    In September of 1970, CBS began airing "The Mary Tyler Moore Show" and it aired in prime time on Saturday nights. The statue was installed in the city of Minneapolis in the year 2002. Lots of people liked the show in the year of 1970 and later years.
  • $200,000 Bomb Threat (1971)

    $200,000 Bomb Threat (1971)
    DB Cooper may have lived 30 years after the 1971 airplane hijack on November 24th, and the FBI (Federal Bureau of Investigation) have found a new suspect the died about 10 years ago. The FBI has revealed the remains of the suspects body.
  • America Gets the Shaft

    America Gets the Shaft
    The 1972 United States -Soviet grain deal was an economic Bay of Pigs for the Nixon Administration. Henry A. Kissinger led the poorly planned and uncoordinated foray in the Soviet economic policy which resulted in disastrous punishments for the United States and international prestige. http://www.thecrimson.com/article/1973/11/16/america-gets-the-shaft-pthe-1972/
  • Stock Market Crash

    Stock Market Crash
    The 1973-1974 market crash was the worst stock market crash since the great depression. The stock market has often described as forward looking what investors will believe will happen in 6 months. Also, stock markets matter and Americans are concerned about these situations. http://www.foxbusiness.com/markets/2011/08/12/worst-stock-market-collapses-since-great-depression.html
  • Gold World Record

    Gold World Record
    On January 31st, 1974, gold had hit a world price record of $19.50 per ounce. http://www.timelines.ws/days/01_31.HTML
  • Minimum Wage Rise

    Minimum Wage Rise
    The Federal Hourly Minimum Wage rose to $2.10 an hour.