skip to content
Visit Your Local PBS Station PBS Home PBS Home Programs A-Z TV Schedules Watch Video Donate Shop PBS Search PBS
Commanding Heights
Search
StorylineTime MapCountriesPeopleIdeas
GlossaryDiscussEducatorsPrint
search
rule_4e769d.gif
Keyword Search:
Go!
Will search for ALL the words in your search string
What You Can Find Within This Site | Search Tips | Keyword List

What You Can Find Within This Site > Key Events
  

1911 China

 

Chinese Revolution topples Manchu dynasty, throwing China into economic chaos

 

1914 Europe

 

Terrorist assassination in Sarajevo triggers World War I; first era of economic globalization ends

 

1917 Russia

 

Russian Revolution leads to USSR, world's first socialist state

 

1919 France

 

Treaty of Versailles: Terms will lead to German economic collapse and rise of fascism

 

1922 Russia

 

Faced with economic disintegration, Lenin propounds "commanding heights" doctrine

 

1923 Germany

 

Hyperinflation destroys the German and Austrian middle class

 

1929 Russia

 

Stalin launches first Five-Year Plan to industrialize the Soviet Union

 

1929 United States

 

Stock market collapse sparks Great Depression and critique of unfettered markets

 

1933 Germany

 

Hitler becomes chancellor, later "Fuhrer"; Nazi economics favors command and control

 

1933 Italy

 

Mussolini's fascist government entrenches state ownership with IRI holding company

 

1933 United States

 

Bank failures result in 25 percent unemployment; Roosevelt becomes president; New Deal begins

 

1936 UK

 

Keynes publishes "General Theory," founds macroeconomics and new approach to managing capitalist economies

 

1939 Europe

 

WWII begins; state-dominated war economies prevail around Europe and U.S. after 1941

 

1944 UK

 

Hayek's "Road to Serfdom" criticizes economic planning by state, will influence only a minority for three decades

 

1944 United States

 

Bretton Woods Conference establishes World Bank, International Monetary Fund, pegs all currencies to gold

 

1945 Germany

 

Potsdam Conference divides Europe; Soviet-occupied countries will adopt command economies

 

1945 UK

 

Attlee/Labor Party victory starts nationalization of major industries, establishes welfare state

 

1946 France

 

Planning pioneered in non-command context, spurs mixed economy, "Thirty Glorious Years"

 

1947 Germany

 

U.S. implements Marshall Plan to avoid repeating WWI treaty mistake, sparks German economic "miracle"

 

1947 India

 

First major decolonization: India seeks to meld Western democracy and socialist planning

 

1947 Switzerland

 

Friedrich von Hayek creates Mt. Pélerin conference to combat economics of central planning

 

1948 Germany

 

Erhard defies Allies, abolishes price controls, succeeds in reviving market economy

 

1949 China

 

Communist revolution founds People's Republic of China; collectivization begins

 

1949 Europe

 

Coal and Steel Community unites six countries in free trade of key goods; first step toward European Union

 

1957 Italy

 

Treaty of Rome establishes European Economic Community

 

1958 China

 

Great Leap Forward attempts forced industrialization; will fail in two years, bringing misery

 

1961 South Korea

 

General Park coup launches state-driven fast industrialization

 

1964 United States

 

Johnson administration launches War on Poverty, expands social programs even as Vietnam War escalates

 

1966 China

 

Mao launches Cultural Revolution to radicalize People's Republic and purge intellectual resistance

 

1968 Czechoslovakia

 

Soviet tanks destroy Prague uprising, crushing "socialism with a human face"

 

1971 Tanzania

 

"Ujamaa" collectivist strategy for "African Socialism" is enforced; will fail, bringing deprivation

 

1971 United States

 

Nixon "goes Keynesian," but price and wage controls bring shortages instead of stopping inflation

 

1971 United States

 

Nixon abandons gold standard, ends Bretton Woods system, sparks modern currency markets

 

1973 Chile

 

Pinochet topples Allende; military regime makes things worse before turning to Chicago-style free-market reform

 

1973 Middle East

 

OPEC instigates oil crisis, triggering global inflation and vast wealth transfer to oil-producing nations

 

1974 UK

 

Coal miners' strike brings blackouts, forces election, Labor Party victory

 

1974 Sweden

 

Friedrich von Hayek awarded the Nobel Prize in Economics; Milton Friedman will follow in 1976

 

1975 UK

 

Thatcher becomes leader of Conservative Party with Keith Joseph seeks new economic vision

 

1978 UK

 

"Winter of Discontent" marks nadir of Keynesian economic policies in Britain

 

1978 China

 

Deng becomes principal leader, launches decollectivization in agriculture

 

1979 UK

 

Election of Margaret Thatcher starts "Thatcher revolution"

 

1979 Iran

 

Revolution turns against Westernization, offers Islamic alternative, sparks second oil shock

 

1979 United States

 

Inflation reaches 13.3 percent; Paul Volcker takes over Federal Reserve; tight-money policy triggers recession

 

1980 Poland

 

Solidarity movement begins in shipyards, will become main labor force in toppling communism

 

1981 France

 

Mitterrand election brings experiment with nationalization and "delinking"

 

1981 United States

 

President Reagan introduces supply-side economics, breaks air controllers' strike, deregulates markets

 

1982 Mexico

 

Default on international loans sparks global debt crisis and "lost decade" for developing nations

 

1983 France

 

"Relinking" and nationalization rollback ends experiment, sets tone for new European social democracy

 

1984 UK

 

First major privatization of a state-owned industry: British Telecom

 

1984 UK

 

Thatcher breaks the miners' union, closes money-losing mines, putting thousands out of work

 

1985 Bolivia

 

Rampant hyperinflation cured with radical market liberalization and reform, pioneering "shock therapy" method

 

1986 Russia

 

After becoming the USSR leader in 1985, Gorbachev begins Glasnost and Perestroika

 

1987 Europe

 

Single Market Act approved; next step forward to European Economic Union

 

1988 Japan

 

Japan "miracle" peaks as Tokyo Stock Exchange capitalization matches NYSE

 

1989 Germany

 

Berlin Wall comes down; "Iron Curtain" falls; Cold War ends

 

1990 Chile

 

Elected government replaces dictatorship, retains reforms despite misgivings about their origins

 

1990 Germany

 

Reunification restores Germany: market West must now assimilate socialist East

 

1990 Poland

 

"Shock therapy" used in Bolivia is repeated successfully in Poland; Walesa becomes president

 

1990 Japan

 

Japanese market bubble deflates; inertia blocks reform of banking system and subsidized domestic sector

 

1991 India

 

Prime Minister Narasimha Rao confronts payments crisis, begins major reform of "Permit Raj"

 

1991 Russia

 

USSR disintegrates: Russia is main successor state

 

1992 Russia

 

Price controls end; privatization of Russia's state industries begins

 

1992 China

 

Deng protects reforms from challenge with publicized "Southern journey" (nanxun)

 

1992 United States

 

NAFTA treaty passed over labor, environmental objections, launches decade of free-trade activism

 

1994 South Africa

 

Apartheid falls, ending closed economy; Mandela's socialist ANC launches market reforms

 

1994 United States

 

After health reform fails, Clinton refocuses on centrist "New Democrat" economic program, welfare reform, globalization

 

1994 Mexico

 

U.S. Treasury intervention staves off Mexican economic crisis, prevents default on international debt

 

1995 United States

 

Republican House "Contract with America" to reduce government brings budget impasse and backlash

 

1996 United States

 

Clinton balances budget, proclaims "Big government is over"

 

1997 UK

 

Tony Blair completes centrist remake of Labor Party with resounding election victory, reelected 2001

 

1997 China

 

Party congress endorses "Deng Xiaoping Theory," dismantling state-owned industrial sector

 

1997 Thailand

 

Speculative boom triggers run on Thai currency; ensuing collapse signals "end of Asian miracle"

 

1997 Indonesia

 

Spreading Asian crisis takes social, political toll in region's largest, poorest country; Suharto deposed

 

1997 South Korea

 

IMF and U.S. forced to organize bailout of South Korean banks to prevent further spread of Asian "contagion"

 

1998 Russia

 

International financial instability spreads to Russia, which defaults on international loans; ruble is devalued

 

1999 United States

 

Contagion reaches Wall Street: Long-Term Capital Management hedge fund fails, endangering banking system

 

1999 United States

 

Seattle WTO summit crystallizes potent global opposition to institutions and politics of global integration

 

2001 United States

 

Terrorist airliner attack destroys World Trade Center in New York City, rocks global financial markets

 

2001 Qatar

 

WTO meets in remote Qatar to initiate new round of global trade talks

 

2002 Europe

 

Euro replaces national currencies of Germany, France, and 10 other European nations

 

2002 Japan

 

Deep interest-rate cuts fail to revive economy; value of yen sinks to new low against other key currencies

 

2002 Argentina

 

Argentina defaults on billions in debt; social and political unrest leads to resignation of two presidents in two weeks

 

2002 United States

 

After WTC attacks, Bush reverses course, creates new agencies, reintroduces Keynesian methods

 

2002 South Africa

 

AIDS pandemic threatens economic future of most nations in sub-Saharan Africa

 
 
Home | Storyline | Time-Map | Countries | People | Ideas | Discuss | Educators | Resources | Site Map | Credits | Glossary | Help
© Copyright 2003 Heights Productions, Inc.