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Period: to
Economics Hundred Years Timeline- Kern
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U.S Steel Founded by John Morgan
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Ford Motor Company Formed
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Ford Model T appears on market
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Supreme Court Breaks Up Standard Oil
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Henry Ford creates the assembly line
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US enters World War 1
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Prohibition
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Great mississippi flood
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Black THursday
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First Supermarket opens
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Franklin D. Roosevelt becomes President
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The wealth tax is passed which penalized the wealthy with higher taxes to help depression.
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The US declares war on Japan
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In the desert at Alamogordo, New Mexico, scientists detonated the world's first atomic bomb.
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he United States drops the 1st atomic bomb on Hiroshima, Japan. "Little Boy"
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The United States detonates the first thermo-nuclear device on the Pacific island of Eniwetok.
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Color tv introduced into the US
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The first transatlantic telephone cable begins operation.
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Minimum wage to $1.25 an hour
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President John F. Kennedy is assassinated in Dallas, Texas by Lee Harvey Oswald.
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Minimum wage increases to $1.60 an hour
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Nixon announces "New Economic Policy", including 90-day freeze on wages, prices, and rents. He also restricts gold outflows.
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The minimum wage is raised from $1.6 to $2.2 per hour
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Franklin National Bank declares insolvent; the largest bank failure in U.S. history.
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The minimum wage is raised to $3.35 per hour.
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OPEC freezes oil prices at $32 per barrel and announces plans to cut production by 10 percent.
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The stock market crashes, with the Dow Jones plummeting a record 508 points. Computerized program trading as well as economic factors is blamed for the crash
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The minimum wage is increased from $3.35 per hour to $3.80.
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U.S. House Bank is ordered closed after revelations House members had written 8,331 bad checks
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The closing of 21 auto plants in the U.S. over the next several years is announced by GM.
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Crude-oil futures hit an almost nine-year high, rising 90 cents to $26.60 a barrel.
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Crude oil prices drop below $30 a barrel.
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Boeing Co. engineers and technical workers returned to work after a 40-day strike ending one of the biggest white-collar walkouts in US history.
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Terrorists attack World Trade Center and the Pentagon.
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U.S. Airways filed for bankruptcy.
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AOL purchases online publisher The Huffington Post in a $315 million deal
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The U.S. House of Representatives passes a small spending bill that funds the federal government until March 18 and cuts $4 billion in spending, averting a potential government shutdown