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Economics Hundred Years Timeline
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Steel Created
In 1901, Andrew Carnegie made his own steel mill, Carnegie steel. He became very wealthy and professional from this industry,and came to own all the stages of making steel -
Wright Brothers Frist Powered Flight
In 1903, the Wright brothers made their first powered flight in the Wright Flyer, over Kill Devil Hills in North Carolina. -
Ford Model T
In 1908, the Ford Model T audomobile, was put on the market on October 1st. -
RMS Titanic Sinks
On April 14th, 1912, the RMs Tiatnic hit an Ice berg and sank, killing over 1,500 passangers on board. -
Assembly Line
Henry Ford Installs the first moving assembly line for mass producton of the automobile. This makes the Ford Model T more affordable and higher wages for workers. -
Raoaring 20's
The raoring 20's marks a time in history where the U.S economy was at it's peak and everyone was having a good time spendning their money on new technology, like cars, and appliancecs and clothes. People were being careless, drinking and dancing and having a fun time -
Wall Street Bombing
In 1920, a bomd exploded on Wall Street in Manhattan killing 30 people, and injuring hundreds. The bombing was never solved, but some historian believe that an Italian group of anarchists called the Galleanists. -
Black Tuesday- Stock Market Crash
On October 29, 1929, the U.S. stock market crashed. The prices of stocks went up, and caused most of the U.S population, besides the rich, to go bankrupt, and loose everything, staring the worst economic downfall in U.S history, The Great Depression. -
Bank of the United States Collapses
In December of 1931, New York's Bank of the United States collapsed during the Great Depression. Being the largest bank failure in American history, the bank lost over $200 million dollars in deposits. -
The Dust Bowl
Around the time of the Great Depression, many farms were devistated by a heavy drought. The 150,000-square-mile area, in Oklahoma and Texas panhandles and sections of Kansas, Colorado, and New Mexico, had little rainfall, light soil, and high winds, caused dangerous wind and sand storms, that destroyed homes, and farms. -
FDR Becomes President
Frankline Deleno Roosevelt was inagurated on March 4th, 1933. He replaced President Herbert Hoover, who had done nothing about the Great Depression. FDR's efforts in recovering America, made him one of the best presidents America ever had. He served four terms -
Four Day Bank Holiday
On March 5th 1933, FDR declared a four day bank holiday, that prevented people from withdrawing their money from unstable banks, after many banks had collapsed. -
FDR Reelected to a 3rd Term
In 1940, Franklin D. Roosevelt was reelected to his third presidential term. -
World War II Lend Lease
The Lend Lease Act was enacted on March 11th 1941, supplied the UK, France, Republic of China, and other nations allied with the US, war material for World War II -
Pearl Harbor
The Japenese bombed Pearl Harbor, sending America into World War II, stimulating American I=ndustry, putting an end to the Great Depression -
The Cold War
A war between the U.S and the Soviet Union, after World War II. The defense spendning had made up to 50% of a federal budget. This spending supported a large defense indusrty in America, which provided employment for Americans during the Cold War. -
Korean War Begins
On June 25, 1950, the Korean War begins. The North Korean military began the Communist lead invasion of South Korea. -
Disneyland Opens in California
on July 17th, 1955, Disneyland opens in Anaheim, California. -
Apollo Program
President Kennedy proposed the Apollo program, with the goal of "landing a man on the moon and returning him safely to the earth." -
Veitnam War
On June 16th, 1961, President Kennedy deployed 400 U.S. military advisors South Vietnam. -
Super Bowl I
On January 15, 1967, the first Super Bowl took place between the Green Bay Packers and the Kansas City Chiefs. -
Further Withdrawls from Vietnam
On April 20th, 1970, President Nixon announces the further withdrawal of 150,000 troops in Vietnam. -
Microsoft
On April 4th 1975, Bill Gates founded the major computer corporation, Microsoft. -
Apple
on April 1st 1976, Steve Jobs founded Apple co. -
MTV
On August 1st 1981, the 24 hour music broadcasting network, MTV, was launched. -
Black Monday
On October 19, 1987, the stock market crashed again, all around the world, starting in Hong KOng, then Europe, then the U.S.The Black Monday decline was and still is, the largest one day percentage decline in the Dow Jones Index. -
Hurricane Hugo
On September 10th-12th in 1989, Hurricane Hugo, hit the East Coast, causing $7 billion in damage. -
1990s Economic Boom
An extened period of time in the 1990s where the U.S economy inceased in GAPD continusly for almost ten years, making it the longest recorded expansion in U.S history. -
The 1994 Northridge Earthquake,
The 1994 Northridge earthquake, striking the Northridge, Los Angeles area, killed fifty-seven people, leaving 20,000 others homeless; causing $20 billion in damage and being the costliest earthquake in U.S. history. -
Personal Responsibility and Work Opportunity Reconciliation Act
President Bill Clinton passed this act that is designed to change the welfare system into one that requires work for assistance. -
Tax Cut
President George W. Bush, signs a 10 year, $350 billion tax cut package. Making it the thrid largest taxt cut in U.S history. -
The "Housing Bubble Bursts"
In 2007, the housing bubble bursts and led the housing market into a crisis, affecting the value of homes, and mortgages. Many people were unable to pay off thier mortgages. -
American Recovery and Reinvestment Act
President Barack Obama and Congress passed this act that provided tax cuts, and federal funds to create new jobs, save exsisting jobs, and increase economic growth.
