Economy GDP

The Marshall Plan (1948) pumped billions into rebuilding Europe after WWII. It helped revive Western Europe’s economies and contain Soviet influence.

In 1928, the Soviet Union introduced the first Five-Year Plan. It aimed to rapidly industrialize the USSR but came at the cost of famine and hardship.

The Great Irish Famine (1845–1852) devastated Ireland’s economy, forcing mass emigration. Over 1 million died, and another million left, reshaping global demographics.

The ‘Nixon Shock’ of 1971 ended the gold standard, detaching the U.S. dollar from gold. Since then, money has been fiat currency—backed only by trust in governments.

In the 1980s, Margaret Thatcher privatized many British state-owned companies. This shift toward free markets became known as ‘Thatcherism.’

The U.S. interstate highway system, launched in 1956, didn’t just change travel—it supercharged commerce, reducing shipping costs and fueling suburban growth.

In the 19th century, the California Gold Rush attracted hundreds of thousands. But most wealth wasn’t made from gold—it was from selling supplies to miners.

The 1929 Wall Street Crash wiped out billions in wealth in days. One-third of U.S. banks failed, leading to a complete overhaul of financial regulation.

The Roman Empire’s economy thrived on trade routes that stretched from Britain to India. Roman coins have been found in Japan, proof of how far their money traveled.

In the 1970s, OPEC’s oil embargo quadrupled oil prices, triggering stagflation in the West—high inflation + high unemployment. It reshaped global energy politics forever.