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Minimum Wage Increases
Minimum wage is increased from 75 cents to $1 per hour. -
Disneyland
Disneyland, the brainchild of Walt Disney, whose father had worked at previous world's fairs and inspired his son to build the iconic Magic Castle and other exhibits opens in Anaheim, California, with the backing of the new television network, ABC. Disneyland California remains today as one of the greatest theme park capitals of the world and some say is second only to his second park built some years later on the other side of the country, Disney World Florida. -
Stock Market Suffers
As a result of the President's heart attack, the stock market suffers. The market that had seen stocks triple on Wall Street in the previous seven years went into a tailspin, the Dow Jones plummeting over 6 percent and losing $14 billion in value by the end of what would prove to be the worst single day for markets since the start of World War II. -
US Installs Diem as Leader of South Vietnam
Diem was viewed by the U.S. officials as the best hope for a leader for an independent, democratic, South Vietnam. This affected the economy because since South Vietnam was no longer a communist nation like the North, we were able to trade with them. Throughout this period, the level of U.S. aid and political support increased. -
Rosa Parks Incites Montgomery Bus Boycott
It was the first example of the economic clout that the community had because eventually, the bus company had to desegregate their buses or face serious financial difficulties as very many black Americans used the buses. Without their economic input via fares, the bus company of Montgomery faced probable bankruptcy. -
Interstate Highway Act
The government gave the “okay” to build an interstate. From this people were allowed to transport goods quicker across the country and that reduced cost of the overall price. If they got it there faster, it was less cost to the consumer. For example: the raw materials from farmers made it to market without spoiling and gave the consumer a greater life on the produce. -
Civil Rights Act of 1957
The goal of the 1957 Civil Rights Act was to ensure that all Americans could exercise their right to vote. The U.S. Congress approves the first civil rights bill since reconstruction with additional protection of voting rights. This affected the economy because it was another step in the Civil Rights Movement. -
President Kennedy Assassination
President Kennedy was assassinated in Dallas, Texas. -
26th Amendment
The 26th Amendment is ratified, allowing 18-year-old to vote. Not all people believed that this amendment had a positive effect on our nation. In fact, some people thought (and still think) that it is to blame for major governmental and economic collapses due to the under-educated voting. -
Microsoft
Bill Gates founded Microsoft, which in time dominated the home computer operating system market.