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Period: to
Team Economic Timeline
Economics Events from 1940-1950 -
1940
Winston Churchill becomes British Prime Minister. Battle of Britain. Roosevelt was elected to a third term. -
Pearl Harbor
-Significant economic growth in Hawai
-Construction projects multiplied and more businesses opened
-Military moved to Hawai -
Internment Camps in U.S. Begin
Executive Order 9066 affected the lives of about 120,000 people—the majority of whom were American citizens. -
Jun 6, 1944
-Winston Churchill becomes British Prime Minister.
-Battle of Britian. -Roosevelt was elected to a third term.
-Helped their respective countries win WW2. -
US Drops Atomic Bomb on Japan
the mood in America was a complex blend of pride, relief, and fear. Ended the boom of the economy the US had during the war. -
The Postwar Booms
Historians use the word “boom” to describe a lot of things about the 1950s: the booming economy, the booming suburbs, and most of all the so-called “baby boom.” This boom began in 1946, when a record number of babies–3.4 million–were born in the United States. Led to more workers in the future. -
Korean war
-GDP growth through government spending,
-Taxes were raised to support the war
-Consumption and investment -
UNIVAC
FIRST BUSINESS COMPUTER
FIRST U.S. TRANSCONTINENTAL TELEVISION TRANSMISSION -
Dwight Eisenhower Elected President
-His most ambitious domestic project, the Interstate Highway program, established in 1956, created a 41,000-mile road system. -
Suez crisis
Based on the shipments that were on the affected vessels in and around the Suez Canal, an estimated $54 billion in trade losses have been reported. About 12% of global trade consisting of about 1M barrels of oil and roughly 8% of LNG pass through the canal each day -
CHINA’S GREAT LEAP FORWARD
"enormous amounts of investment only produced modest increases in production or none at all. ... In short, the Great Leap was a very expensive disaster". -
NIKITA KRUSHCHEV BECOMES SOVIET PREMIER
liberated millions of peasants; by his order the Soviet government gave them identifications, passports, and thus allowed them to move out of poor villages to big cities