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The First World's Fair
The United States participates in the opening ceremony of the first World's Fair which included the Great Exhibition of the Works of Industry of all Nations in London, England. This event became the first major gathering of the works of nations in one location. -
Edwin L. Drake Drills Oil Well
The first productive oil well is drilled by Edwin L. Drake in Titusville, P.A to be used in the marketplace. -
The Homestead/Land Grant Act
The Homestead Act is approved granting family farms of 160 acres to settlers. Two months later the Land Grant Act was approved which called for the sale of public land to fund agricultural education. This act led to the establishment of State University programs. -
Invention of Celluloid
John W. Hyatt invents and patents the first synthetic plastic called celluloid, which is used commercially for goods such as combs, curtains, and photography film. -
Black Friday
The major shopping holiday, Black Friday, begins in NYC -
Creation of U.S Steel
The new U.S Steel Corporation combined Morgan's and Carnegie's steel companies, creating a powerful trust that dominated the steel industry and became the world's first billion dollar company that generated a ton of U.S exports -
Scientific Management Theory
A guide developed by engineer Frederick Taylor to increase U.S industrial efficiency and productivity by providing suggestions to cut unnecessary spending in order to increase revenue for businesses -
Creation of Hallmark
Hallmark, the famous holiday cards and gifts company, is founded by Joyce Hall who began his business as strictly post card sales. The company quickly expanded to include cards, gifts, and other celebration goods that jump-started the retail industry. -
Panama Canal Opened
Worldwide commerce skyrockets after channel connecting the Atlantic and Pacific oceans is built, making the transportation of goods between continents much more efficient. -
Stock Market Crash
The Dow Jones Industrial Average rapidly fell to 25%, with market value losing 30 million dollars. This event caused banks to panic and businesses to declare bankruptcy, resulting in a nationwide Depression that lasted about a decade. -
Birth of the Baby Boomers
Husbands return home after the end of WWII and a wave of childbirths occur around the same time, resulting in a generation with a powerful influence over market trends such as toys such as the "Easy-Bake Oven" and "Chatty Cathy" dolls. -
Creation of NASA
President Eisenhower supports the development of the National Aeronautics and Space Administration, which lead to to technological advances in the science and communication industries. -
Apple Inc. is Founded
Head creator Steve Jobs, along with some other inventor-engineers, created the infamous global electronics and software company that dominates the US electronics industry today. Apple Inc.'s profits rank first as the world's largest information technology company. Their iPhone, iPad, and Mac computer products can be found in nearly every household. -
Fall of the Berlin Wall
U.S global commerce takes off after the Berlin Wall is demolished. U.S businesses such as McDonald's, Microsoft, and Coca-cola quickly establish themselves throughout a suppressed Europe, and encourage the values of capitalism. -
9/11 Terrorist Attacks
Terrorist attacks that struck the twin towers in New York City over a decade ago forever shook the business world, as many corporations lost employees and their office spaces on September 11, 2001. The NY Stock Exchange shut down for about a week, while insurance and small businesses suffered great losses.
