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Economics 100 Year Timeline
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Wright Brothers' First Flight
On December 17, 1903, Orville Wright piloted the first powered airplane 20 feet above a wind-swept beach in North Carolina. The flight lasted 12 seconds and covered 120 feet. Three more flights were made that day with Wilbur flies a glider in earlier tests
Kitty Hawk, Oct. 10, 1902. Orville's brother Wilbur piloting the record flight lasting 59 seconds over a distance of 852 feet. -
Ford Introduces Model T
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Mann Act
Also known as the White-Slave Traffic Act, the law was named after congressman, James Robert Mann. The act prohibited white slavery and human trafficking. -
Manhatten Sweatshop Fire
Fire breaks out at the Triangle Shirtwaist Company. The building was overcrowded with women immigrant workers and poor safety standards including the doors to the stairwells and exits were locked allowing no exit from the fire in the eighth, and ninht floors. -
RMS Titanic Sinks
On the voyage from Southampton, UK to New York City, US, the ship collided with an iceberg in the North Atlantic Ocean. There were 1, 502 deaths and it was considered on of the worst disasters in modern history. -
World War I Begins
This war consisted of all the world's great powers. The two opposing alliances were the Allies; Triple Entente of the United Kingdom, France, and Russia. Also the Central Powers; Triple Alliance of Germnay, Austria-Hungary, and Italy. It was the fifth deadliest conflict in world history, with 9 million combatants killed. Resulting in high charges of casualities. -
Eightennth Amendment Of the United States Constitution
EStablished the prohibition of alcoholic beverages in the United States by declaring the production, transport, and sale of (though not the comsumption or private possession of) alcohol illegal. -
19th Amendement of The United States Constitution
This amendment prohibited any United States citizen from being denied the right to vote on the basis of sex. Therefore women were finally allowed the privelige to vote along with men now. -
Frozen Groceries are now available for sale
Freezing food preserves it from the time it is prepared, to the time it is eaten. In the beginning of 1929, Clarence Birdseye offered his quick-frozen foods to the public. It became a popular money saver, being that food would have a longer shelf life, without spoiling and having to be thrown out and waisted. -
President Roosevelt establishes New Deal Plan
The New Deal was s series of economic measures taken in order to recover the United States from the Great Depression. Their main goals were the three "Rs". Relief for the unemployed and poor, recoery to normal economic levels and reform of the financial situation to prevent a repeat depression. -
Office of Price Administration
The Office of Price Administration (OPA) was established within the Office for Emergency Management of the United States government on August 28, 1941. The functions of the OPA were originally to control money (price controls) and rents after the outbreak of World War II. -
G.I. Bill of Rights
The Servicemen's Readjustment Act of 1944, known informally as the G.I. Bill, was a law that provided a range of benefits for returning World War II veterans (commonly referred to as G.I.s). Benefits included low-cost mortgages, low-interest loans to start a business or farm, cash payments of tuition and living expenses to attend college, high school or vocational education, as well as one year of unemployment compensation. -
Employment Act of 1946
The Employment Act of 1946 is a United States federal law. Its main purpose was to lay the responsibility of economic stability of inflation and unemployment onto the federal government. -
Immigration and Nationality Act
The Immigration and Nationality Act of 1952, also known as the McCarran–Walter Act, restricted immigration into the U.S. and is codified under Title 8 of the United States Code. -
Polio Vaccine
The first was developed by Jonas Salk and first tested in 1952. Announced to the world by Salk on April 12, 1955, it consists of an injected dose of inactivated (dead) poliovirus. The dead microbes cause the antigen to create antibodies to fight off the possible disease. -
Eisenhower Doctrine
Under the Eisenhower Doctrine, a country could request American economic assistance or aid from U.S. military forces if it was being threatened by armed aggression from another state. -
Economic Opportunity Act
The Economic Opportunity Act of 1964, authorized the formation of local Community Action Agencies as part of the War on Poverty. -
Civil Rights Act
The Civil Rights Act of 1968, was a landmark piece of legislation in the United States that provided for equal housing opportunities regardless of race, creed, or national origin -
Woodstock Festival
Crazy, populated festivel that was full of music, drugs and alcohol. It was the start of the baby boom. Larger families led to more expenses in all the mouths to feed. -
First Earth Day celebrated
Earth Day is an annual event, celebrated on April 22, on which events are held worldwide to demonstrate support for environmental protection. Being more cautious of the environment means less problems and costs to fix them. -
Apollo 17
Apollo 17 was the final mission of the United States' Apollo lunar landing program, and was the sixth landing of humans on the Moon. Launched at 12:33 a.m. Eastern Standard Time (EST) on December 7, 1972, with a three-member crew consisting of Commander Eugene Cernan, Command Module Pilot Ronald Evans, and Lunar Module Pilot Harrison Schmitt, Apollo 17 remains the most recent manned Moon landing and the most recent crewed flight beyond low Earth orbit. The whole process was long, and expensive. -
New York City blackout of 1977
The New York City blackout of 1977 was an electricity blackout that affected most of New York City on July 13–14, 1977. The only neighborhoods in the city that were not affected were in southern Queens and neighborhoods of the Rockaways, which are part of the Long Island Lighting Company system. The result was looting and stealing which shows how dependent americans are on expensive goods. -
Economic Recovery Tax Act
The Economic Recovery Tax Act of 1981 was a federal law enacted in the United States in 1981. It was an act "to amend the Internal Revenue Code of 1954 to encourage economic growth through reductions in individual income tax rates, the expensing of depreciable property, incentives for small businesses, and incentives for savings, and for other purposes" -
Nintendo Entertainment System
The Nintendo Entertainment System (also abbreviated as NES or simply called Nintendo) is an 8-bit video game console that was released by Nintendo in North America during 1985. This is the beginning of expensive video games that become a staple in young children's lives. -
Hurrican Hugo
Hurricane Hugo was a rare but powerful Cape Verde-type hurricane that caused widespread damage and loss of life in the Leeward Islands, Puerto Rico, and the Southeast United States. It costed 7 billion dollars in damage. -
Hurricane Andrew
Category five hurricane, Hurrican Andrew, kills 65 people and costs $26 bilion in damage. It was considered the costliest natural disaster until Hurrican Katrina. -
Northridge Earthquale
The Northridge Earthquake killed 72 and injured 9,000 people in the Los Angeles area. It caused $20 billion in damage. -
OKlahoma Tornado
A violent tornado outbreak in Oklahoma kills fifty people and becomes the first to produce a tornado costing $1 billion in damage. -
Economic Growth and Tax Relief Reconciliation Act
The Economic Growth and Tax Relief Reconcilition Act institutes the largest tax cut in united states history. -
Super Tuesday
The super tuesday tornado outbreak kills over sixty people and causes $1 billion in damage across Arkansas, Kentucky, Tennesse and Alabama. -
Stimulus Package
President Barack Obama obtains congressional approval for the $787 billion stimulus package, the largest since president Dwight D. Eisenhower.
