-
Labor Unions
The public did not like the frequent strikes of workers. But in the early 1900's their opiniond started to slowly change, and were more supportive of the idea of labor unions. -
Period: to
economics
-
Trans-Siberian Railroad Completed
Russians finished this railroad that opened up large scale access and shipping to the region. -
panama canal
The Panama Canal was needed for both shipping and war puposes. After a conflict with purchasing the land from Colombia, the United States backed up a Panamanian revolution against Colombia -
bank panic
when new yorks bank fails, people rush to withdrawl their davings, but due to the amount of people withdrawling at one time, it causes 246 other banks to collapse. -
assembly line
henery ford invented the assembly line, helps mass productions -
clayton antitrust act
requiring and enforcing Pacific conduct for large corporations -
stock market crash
big decline in the u.s. stock market values which caused alot of americans to loose alot of money in investments- -
new president
Frankin D Roosevelt becomes new president -
glass stegall act
governemt passes act to restrict banks from entering risky buisness -
bank holiday
president stops banks for 4 days and abondons gold standard -
emergency banking act
sought to re-instill investor confidence and stability in the banking system. -
government passes fdic
federal deposit insurance corporation protects deposits againts bank failure -
world econmic leaders meet
leaders meet in new hamspire to establish new world economic order and discuss policies -
korean war
korean war creates new government debt. -
fed treasury accord
restores independence to the fed through an agreement with the U.S. treasury -
unemployment assistence act
establishes a needs test and requires governemnt to pay 50 percent of costs -
social security act
creating medicare and medicaid helping elders and poor people -
food prices
Nixon administration imposes wage and price controls to curb inflation on food prices , prices shoot up once controls are removed -
fuel
The Arab oil embargo during the Arab-Israeli War causes petroleum supply shock that raise the price of fuel -
agriculture
The decline in agriculture combined with the rising oil prices causes people to lose their jobs and inflation of prices of 10% -
airlines
Congress passes the airline deregulation act removing government control over airfares, air routes, and market entry of new commercial airlines low cost airlines appear and airfares declining cost benefiting customers -
firrea
Congress passes the financial institutions reform recovery and Enforcement Act to create safer bases on which to build the Savings and Loan industry -
savings and loans
failures of saving and loans cost 160 billion which the givernemnt pays 124 billion -
NAFTA
The North American Free Trade Agreement is created to remove tariff barriers between the US Canada and Mexico for 15 years -
riegle neal act
Congress passes the Riegle- Neal interstate banking and branching efficiency act eliminating barriers to establishing bank branches nationwide -
ARRA
President Obama and Congress passed the American Recovery and Reinvestment Act providing tax cuts and federal funds to create new jobs and save jobs -
debt
Debt rises to 11 trillion -
healthcare reform bill
aimed for providing affordable health care -
finanical regulations bill
preventing risky behavior
