The 1940's

By nevaeh_claitt28

  • The Fair Labor Standards Act

    The Fair Labor Standards Act
    This act started minimum wage overtime pay when people started working 40 hours a week. It also made oppressive child labor illegal. Although this act was established in 1938 it didn't go into effect until 1940.

  • SEC enforces PUCHA US securities

    SEC enforces PUCHA US securities
    SEC Enforces PUHCA US Securities brought actions against almost all major utility companies which lead to lower customer rates, increased shareholder value, and greater plant efficiency.

  • The Board of Governors Advisory Committee was started

    The Board of Governors Advisory Committee was started
    This helps operate the federal reserve system to fulfill the goals and responsibilities of the federal reserve. This made the control of the exchange returned to the floor members.

  • Attack on Pearl harbor

    Attack on Pearl harbor
    When Pearl Harbor happened millions of men were called to war which made all their jobs available, these open positions were now open to women when previously they were not. This started a moment promoting the modernization of women.

  • President Roosevelt signs the Price Control Bill

    President Roosevelt signs the Price Control Bill
    This means the bill sets prices for all products that are not farm goods to prevent inflation.

  • International Monetary and world bank is created at the Bretton Woods Conference

    International Monetary and world bank is created at the Bretton Woods Conference
    These keep track globally of money between different countries, the I.M.F (The international monetary system), it lends money to countries who are a member. It helps reverse stables money and strengthen economic growth.

  • The great strike wave

    The great strike wave
    There were a series of massive postwar labor strikes because of economic adjustments once the war ended. A large reason was 10 million soldiers returning home in need of work. Strikes affect many industries like steel, automobiles, shipping, and railroads . The supply of bread was even shut off.

  • Congress passed the Taft-Hartley Act

    Congress passed the Taft-Hartley Act
    This act was passed by Congress on June 23, 1947.It restricted the labor unions control by requiring them to tell certain financial and political activity.

  • Recession of 1949

    Recession of 1949
    This lasted 11 months and started after president Truman's “fair deal” which had proposals to help with education, fair employment practices, and national health insurances were all voted against.