Economics in History
Explore 144 historical moments related to economics — from pivotal breakthroughs to world-changing events.
📅 13th Century(1)
📅 19th Century(1)
📅 20th Century(44)
Wall Street Crash
The Wall Street Crash of 1929, also known as Black Thursday, occurs. This stock market crash marked the beginning of a prolonged economic downturn worldwide.
Wall Street Crash of 1929
The Wall Street Crash of 1929, also known as Black Tuesday, marked the beginning of a major stock market decline.
Black Tuesday: Wall Street Crash begins
The Wall Street Crash of 1929, also known as Black Tuesday, marked the beginning of a major economic downturn that led to the Great Depression.
Toledo Auto-Lite strike violence
A violent confrontation occurred between thousands of strikers and sheriff's deputies during a strike against the Electric Auto-Lite company in Toledo, Ohio.
Organisation for European Economic Co-operation founded
The Organisation for European Economic Co-operation was established in Paris.
Iranian oil industry nationalized
The Iranian oil industry was nationalized in a movement led by Mohammad Mosaddegh.
COBOL Development Discussion
A team of computer scientists met to discuss the creation of a common business-oriented programming language, which became COBOL.
AMC Gremlin introduced
The American Motors Corporation introduced the Gremlin, marketed as America's first subcompact car.
Hutt River Province Declared Independent
In response to a dispute over wheat production quotas, Leonard Casley declared his farm in Western Australia to be an independent country. He named it the Hutt River Province.
World Trade Center Dedicated
The World Trade Center in New York City was officially dedicated. This occurred a year after the completion of its twin towers.
Baltimore municipal workers strike
Municipal workers in Baltimore, Maryland, went on strike seeking higher wages and better conditions.
Microsoft is founded
Bill Gates and Paul Allen establish Microsoft, a company that becomes central to the personal computer revolution.
Microsoft Founded
Bill Gates and Paul Allen founded Microsoft in Albuquerque, New Mexico. They aimed to develop and sell BASIC interpreters for the Altair 8800.
Icelandic women's strike
Ninety percent of Iceland's female population went on strike for a day. The strike was a protest against wage discrepancy and unfair employment practices.
Lockheed admits to bribery
Lockheed Corporation president Carl Kotchian admitted the company paid approximately US$3 million in bribes to the office of Japanese prime minister Kakuei Tanaka. This admission revealed significant corporate corruption.
Apple Computer is incorporated
Apple Computer is formally incorporated by Steve Jobs, Steve Wozniak, and Mike Markkula, helping launch the personal computer era.
Tandy Corporation Announces TRS-80
Tandy Corporation announced the TRS-80, one of the world's first mass-produced personal computers.
Callaghan Government Falls
British Prime Minister James Callaghan's government was defeated by one vote in a no-confidence motion. This followed widespread strikes during the Winter of Discontent.
Solidarity trade union founded in Poland
Solidarity, a Polish trade union, was founded as the first independent labor union in an Eastern Bloc country.
Reagan lifts oil price controls
U.S. president Ronald Reagan lifted price controls from petroleum products, contributing to the 1980s oil glut.
ZX81 Home Computer Launched
The ZX81, a pioneering British home computer, was launched by Sinclair Research. It went on to sell more than 1.5 million units worldwide.
Conservative MPs oppose Thatcher's economic policy
A group of Conservative Members of Parliament wrote a letter outlining their opposition to Margaret Thatcher's economic policy. This led to speculation over a potential split from the party.
Brink's-Mat Robbery
Six robbers broke into a Brink's-Mat warehouse at Heathrow Airport in London and stole £26 million in gold, diamonds and cash.
Sinclair C5 launched
Sir Clive Sinclair launched the Sinclair C5 personal electric vehicle, which became a cult collectible despite its commercial failure.
"We Are the World" Released
The charity single "We Are the World" by the supergroup USA for Africa was released, and went on to sell more than 20 million copies.
MV Amazon Venture oil spill
The MV Amazon Venture oil tanker began leaking while at the port of Savannah. This resulted in an oil spill of approximately 500,000 US gallons.
Iran-Iraq War: SS Bridgeton damaged
In opposition to the American plan to protect Kuwaiti tankers, Iran laid mines and damaged the SS Bridgeton, resulting in a propaganda victory for Iran.
Boris Yeltsin's Texas grocery store visit
During a tour of the United States, Soviet politician Boris Yeltsin visited a grocery store in Texas that had a major impact on his views regarding the Soviet Union's economic system.
Van Gogh painting sells for record price
Vincent van Gogh's Portrait of Dr. Gachet was sold at auction for US$82.5 million, setting a world record for the most expensive painting at the time.
Northern Xinjiang railway completion
Construction of the Northern Xinjiang railway was completed between Ürümqi South and Alashankou, linking the railway lines of China and Kazakhstan.
Escondida Copper Mine Inaugurated
Escondida, which would become one of the world's most productive copper mines, was officially inaugurated.
Black Wednesday
The British pound was forced out of the European Exchange Rate Mechanism on Black Wednesday and suffered a major devaluation.
Marriage Fund established in UAE
Sheikh Zayed bin Sultan Al Nahyan established the Marriage Fund in the United Arab Emirates. This was in response to rising wedding prices and occurred on December 10, 1992.
World Trade Organization Established
At a GATT ministerial meeting in Marrakesh, Morocco, representatives of 123 countries and the European Communities signed an agreement to establish the World Trade Organization.
Barings Bank collapse
Barings Bank, London's oldest merchant bank, became insolvent after Nick Leeson lost £827 million in unauthorized trades. Leeson was the head derivatives trader in Singapore.
Alexandra Andresen
Alexandra Andresen is a Norwegian heiress and a professional equestrian.
Suharto resigns as Indonesian president
Indonesian president Suharto resigned after a collapse of support for his presidency amid economic and political crises. His resignation ended 32 years of authoritarian rule.
Euro Exchange Rates Frozen
The European Exchange Rate Mechanism froze the exchange rates of the legacy currencies in the eurozone, establishing the value of the euro.
Euro currency introduced
The euro is introduced as an accounting currency in eleven European Union member states, marking a milestone in European integration.
Singapore Portrait Series banknotes introduced
The first banknotes of the Portrait Series of the Singapore dollar were introduced. They were issued by the Board of Commissioners of Currency.
WTO Protests in Seattle
Protests by anti-globalization activists against the World Trade Organization Ministerial Conference of 1999 in Seattle forced the cancellation of the opening ceremonies.
RIAA Sues Napster
The Recording Industry Association of America filed a lawsuit against the peer-to-peer file sharing network Napster. The lawsuit, filed on December 6, 1999, alleged that the service facilitated widespread copyright infringement.
Steve Ballmer becomes Microsoft CEO
Steve Ballmer replaced Bill Gates as the chief executive officer of Microsoft.
US v. Microsoft Antitrust Ruling
In United States v. Microsoft Corp., Microsoft was found to have violated antitrust law by bundling Internet Explorer with its Windows operating system.
📅 21th Century(98)
Enron Files for Bankruptcy
The Texas-based energy firm Enron filed for Chapter 11 bankruptcy, less than two months after disclosing accounting violations. This evaporated nearly $11 billion in shareholder wealth.
Prestige oil spill
The Greek oil tanker Prestige split in two and sank off the coast of Galicia, spilling 420 thousand barrels of oil. This event caused the worst environmental disaster in Spanish and Portuguese history.
Hong Kong levy on foreign domestic helpers
A levy was imposed on the hiring of foreign domestic helpers in Hong Kong, who numbered in the hundreds of thousands at the time.
Azerbaijan Redenomination Decree
President Ilham Aliyev issued a decree on the redenomination of Azerbaijan's currency. One new manat was made equal to 5000 old manats.
Texas City refinery explosion
A fire and explosion at an oil refinery in Texas City killed 15 workers.
Taiwan earthquake damages cables
Two earthquakes off the southwest coast of Taiwan damaged submarine communications cables, disrupting Internet services in Asia and affecting financial transactions.
Steel Factory Disaster in China
A disaster at a steel factory in Liaoning, China, on April 18, 2007, resulted in the deaths of 32 workers. A ladle spilled 30 tonnes of molten steel.
Northern Rock bank run
The Northern Rock bank received a liquidity support facility from the Bank of England on September 14, 2007, sparking a bank run. This was the United Kingdom's first bank run in 150 years.
Trump International Hotel and Tower Grand Opening
The Trump International Hotel and Tower in Chicago, then the world's tallest residential building, held its grand opening. The building stands 1,388 feet tall.
Lehman Brothers files for bankruptcy
The global financial services firm Lehman Brothers filed for bankruptcy, holding over $600 billion in assets. This was the largest such filing in U.S. history.
Emergency Economic Stabilization Act of 2008
The Emergency Economic Stabilization Act of 2008, establishing the Troubled Asset Relief Program, was enacted to provide a bailout of the U.S. financial system.
Bernie Madoff arrested for $64.8 billion Ponzi scheme
American stockbroker Bernie Madoff was arrested and charged with securities fraud. The charges related to a $64.8 billion Ponzi scheme, the largest in history.
Bitcoin Genesis Block Mined
The cryptocurrency network of bitcoin was created when Satoshi Nakamoto mined the first block of the chain.
Tesla Model S Unveiled
A prototype of the Tesla Model S, a groundbreaking electric car, was unveiled. This vehicle would become highly influential in the automotive industry.
Protests at Icelandic parliament
During a national financial crisis, thousands of people protested at the Icelandic parliament in Reykjavík.
Heilongjiang Mine Explosion
An explosion in a coal mine in Heilongjiang, China, resulted in the deaths of 108 miners.
L'Homme qui marche I sold for record price
An edition of Alberto Giacometti's sculpture L'Homme qui marche I was sold for £65 million. This set the record for the most expensive sculpture sold at auction.
Flash crash of 2010
Exacerbated by high-frequency traders using strategies that have since been banned, major U.S. stock indices dropped nearly 9 percent and quickly rebounded.
G20 Summit in Toronto
A G20 summit began in downtown Toronto, marking the largest and most expensive security operation in Canadian history.
Occupy Wall Street begins
Adbusters organized a protest against corporate influence on democracy at Zuccotti Park in New York City, known as Occupy Wall Street.
Olympus Scandal Escalates
Michael Woodford was dismissed as CEO of Olympus after uncovering financial misconduct, escalating the corporate scandal.
Global Protests
Global demonstrations against economic inequality and corporate influence were held in more than 950 cities in 82 countries.
India Power Outage
The largest power outage in history occurred across 22 Indian states, affecting more than 620 million people. This impacted about 9 percent of the world's population.
Brussels Airport Diamond Heist
Eight gunmen stole US$50,000,000 worth of diamonds from a Swiss-bound aircraft at Brussels Airport.
Jacques Bergerac
French actor and businessman Jacques Bergerac died on June 15, 2014. He was born in 1927.
Frank DiPascali
Frank DiPascali was an American businessman. He was born in 1956.
Miguel Facussé Barjum dies
Miguel Facussé Barjum, Honduran businessman, has died.
Masahiko Aoki
Japanese-American economist and academic.
Lloyd Shapley
Lloyd Shapley was an American mathematician and economist, and a Nobel Prize laureate.
Roger Agnelli
Roger Agnelli, a Brazilian banker and businessman, died on March 19, 2016. He was born in 1959.
Panama Papers Revealed
The first news stories on the Panama Papers were published, exposing the illegal use of shell corporations by the law firm Mossack Fonseca.
Aston Martin DB9 production ends
The last nine Aston Martin DB9 units rolled off the production line, marking the end of a twelve-year manufacturing period.
UK Invokes Article 50 for Brexit
British prime minister Theresa May invoked Article 50 of the Treaty on European Union, formally beginning the United Kingdom's withdrawal from the European Union.
Allan MacEachen
Allan MacEachen was a Canadian economist and politician who served as Deputy Prime Minister of Canada.
Vichai Srivaddhanaprabha
Vichai Srivaddhanaprabha was a Thai businessman and chairman of Leicester City F.C., born in 1958.
Lee Iacocca
Lee Iacocca, a prominent American automotive executive, died.
Lars Larsen
Lars Larsen, Danish businessman and founder of the retail chain JYSK, has died. He was born in 1948.
Ferdinand Piëch
Ferdinand Piëch was an Austrian business magnate and engineer.
Drone attacks on Saudi oil facilities
Drone attacks on major processing facilities at Abqaiq and Khurais forced Saudi Arabia to cut more than half of its oil production on September 14, 2019.
Thomas Cook Group Ceases Operations
The British travel company Thomas Cook Group ceased operations with immediate effect. This left approximately 600,000 tourists stranded worldwide.
Cimabue's Mocking of Christ
The Mocking of Christ by Cimabue sold at auction in France for €19.5 million, a record for a pre-1500 artwork.
Hpakant jade mine disaster
A landslide at a jade mine in Hpakant killed 175–200 miners, the deadliest mining accident in Burmese history.
Robert Trump
Robert Trump, American real-estate developer and business executive, died.
John Deere Strike
Approximately 10,000 John Deere employees went on strike, marking one of the largest private-sector strikes in the United States.
Manchester bus drivers strike
Bus drivers in Greater Manchester began an eleven-week strike, one of the longest in British transportation history.
Suez Canal obstruction
A container ship ran aground and obstructed the Suez Canal for six days.
Leonardo da Vinci Drawing Sets Record
Leonardo da Vinci's drawing 'Head of a Bear' sold at auction in London for £8.8 million. This set a new record for a drawing by the artist.
Clive Sinclair
Clive Sinclair was an English entrepreneur and inventor.
John Elliott
John Elliott was an Australian businessman.
Tornado hits Amazon warehouse
A tornado struck an Amazon warehouse during increased holiday demand, killing six sheltering workers. The incident occurred on December 10, 2021.
Mino Raiola
Mino Raiola was an Italian football agent.
Cyrus Mistry
Cyrus Mistry, born in 1968, was an Indian-Irish businessman.
Gordon Moore
Gordon Moore was an American businessman, engineer, and co-founder of Intel Corporation.
Padma Desai
Padma Desai, an Indian-American development economist, died on April 29, 2023. She was born in 1931.
Silvio Berlusconi
Silvio Berlusconi was an Italian businessman and politician, and Prime Minister of Italy.
Harry Markowitz
Harry Markowitz was an American Nobel laureate economist.
Charlie Munger
American businessman and vice chairman of Berkshire Hathaway who died in 2023.
Osamu Suzuki
Osamu Suzuki was a Japanese businessman.
Jim Simons
Jim Simons was an American hedge fund manager, mathematician, and philanthropist.
Thomas J. Donohue
Thomas J. Donohue was an American business executive.
North Korean Migrant Workers Unrest
Several thousand North Korean migrant workers in Helong engaged in civil unrest, including a factory occupation and hostage-taking, due to unpaid wages.
Iris Apfel
Iris Apfel, an American businesswoman, interior designer, and philanthropist, has died.
Daniel Kahneman
Daniel Kahneman was an Israeli-American author, psychologist, and economist, and a Nobel Prize laureate.
Eddie Gossage
Eddie Gossage was an American public speaker and businessman.
Bruce Nordstrom
Bruce Nordstrom was an American businessman.
Tony O'Reilly
Tony O'Reilly was an Irish rugby player and businessman.
Ivan Boesky
Ivan Boesky was an American stock trader.
Ramoji Rao
Indian businessman, media proprietor, and film producer Ramoji Rao died.
William H. Donaldson
William H. Donaldson was an American businessman.
Dudu Myeni
Dudu Myeni was a South African businesswoman.
Death of Jane McAlevey
Jane McAlevey, an American labor organizer and author, passed away.
Wally Amos
American entrepreneur, founder of Famous Amos.
Silvio Santos
Silvio Santos, a Brazilian media mogul and television host, died.
Leonard Riggio
Leonard Riggio was an American businessman.
Death of Arie L. Kopelman
Arie L. Kopelman, an American businessman, has died.
Bernard Marcus
American billionaire businessman and philanthropist Bernard Marcus died. He was born in 1929.
Ben Baldanza
Ben Baldanza was an American economist and business executive.
Ananda Krishnan
Malaysian businessman who died in 2024.
David Bonderman
David Bonderman was an American billionaire businessman.
Isak Andic
Turkish-Spanish billionaire businessman (born 1953).
Richard Parsons
Richard Parsons was an American business executive.
Manmohan Singh
Manmohan Singh was an Indian economist and politician who served as the 13th Prime Minister of India.
Charles Dolan
American businessman who founded Cablevision and HBO.
Costas Simitis
Costas Simitis was a Greek economist, lawyer, and politician who served as Prime Minister of Greece.
Junior Bridgeman
Junior Bridgeman, American basketball player and businessman, died.
Jorge Nuno Pinto da Costa
Portuguese businessman Jorge Nuno Pinto da Costa died.
Horst Köhler
Horst Köhler, Polish-German economist and politician, 9th President of Germany, died.
Fay Vincent
Fay Vincent, American lawyer and businessman, 8th Commissioner of Baseball, died.
Harry Jayawardena
Harry Jayawardena, Sri Lankan industrialist, died. He was born in 1942.
Kandiah Balendra
Kandiah Balendra, Sri Lankan corporate leader and executive, died. He was born in 1940.
Irv Gotti
Death of Irv Gotti, American record producer and co-founder of Murder Inc Records.
Jane Reed
Jane Reed was a UK Magazine editor and media executive.
Carl Lundström
Carl Lundström, Swedish businessman and activist, died on this date.
Lee Shau-kee
Lee Shau-kee, Hong Kong real estate billionaire, died.
Death of George Foreman
George Foreman, an American boxer, actor, and businessman, died.
Stanley Fischer
Stanley Fischer was an Israeli-American economist.
Aminu Dantata
Aminu Dantata, born in 1931, was a Nigerian businessman and philanthropist.
David Webb
British activist shareholder (born 1965).
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Frequently Asked Questions
- What are the most important economics events in history?
- Notable economics events include: Marco Polo begins journey home (1292), Coca-Cola first sold (1886), Wall Street Crash (1929).
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- Our collection includes 144 historical entries related to economics, spanning centuries of human history.
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