Timeline: 1850-1900
Major Economists of This Era
1860
INFORMATION FROM:
http://www.frbsf.org/publications/education/unfrmd.great/1850-1900.html
- Karl Marx (1818-1883)
- Leon Walras (1834-1910)
- Alfred Marshall (1842-1924)
1860
- Civil War begins at Fort Sumter, South Carolina
- Issue of Greenbacks to help finance the Civil War marks the beginning of modern currency in USA
- Etienne Lenoir invents internal combustion engine in France
- National Banking Act establishes a system of federally-chartered banks in the USA
- Civil War ends when South surrenders at Appomattox Courthouse, Virginia
- Karl Marx begins writing Das Kapital, which will form the basis for the Marxist School of economic theory
- Alfred Nobel invents dynamite
- Union Pacific and Central Pacific railroads meet in Utah
- The Standard Oil Company is founded by John D. Rockefeller
- City of Chicago destroyed by fire
- Germany adopts the mark as its currency
- Financial panic in Europe spreads to USA, causing withdrawal of foreign capital
- Alexander Graham Bell invents telephone
- Thomas Alva Edison invents the phonograph and electric light bulb
- Beginning of the Marginalist School of economic theory
- American Federation of Trades and Labor is founded
- William LeBaron Jenney builds first skyscraper in Chicago, Illinois
- France presents the Statue of Liberty to the USA
- Louis Pasteur successfully uses vaccination against rabies
- Heinrich Hertz identifies radio waves
- Gottlieb Daimler builds first automobile
- Eiffel Tower is built in Paris for World Exposition of 1889
- Labor unrest erupts in USA when workers strike the Carnegie Steel Company
- Alfred Marshall publishes Principles of Economics
- The Sierra Club is founded by John Muir
- Sigmund Freud establishes psychoanalysis with publishing of Studien uber Hysterie
- Wilhelm Conrad Rontgen discovers X-rays
- U.S. Congress enacts Income Tax Act, but Supreme Court declares it unconstitutional
- Henry Ford produces his first automobile
INFORMATION FROM:
http://www.frbsf.org/publications/education/unfrmd.great/1850-1900.html