1951 Economy & Business Events — Verified Historical Highlights
1951 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 29 Jan Major League Baseball secures groundbreaking TV-radio rights deal: On January 29, 1951, Major League Baseball announced a significant television and radio rights deal, marking a turning point in the way baseball was broadcasted and consumed by fans. This deal helped to popularize the sport across the United States. source: nytimes.com
- 18 Mar Ben Cohen born, co-founder of Ben & Jerry's: Ben Cohen, co-founder of the ice cream company Ben & Jerry's, was born on March 18, 1951, in Brooklyn, New York. He co-founded the company with Jerry Greenfield in 1978, which became known for its unique flavors and social activism. source: en.wikipedia.org
- 23 Mar French economic adjustment: In March 1951, France implemented significant economic adjustments to stabilize its post-war economy. This included measures to control inflation and improve trade balances, reflecting the broader challenges faced by European nations during the recovery period. source: brookings.edu
- 26 May Birth of Ramón Calderón: Ramón Calderón, a Spanish lawyer and businessman, is born. While specific details of his career are not provided, he likely made contributions to Spanish legal and business sectors.
- 02 Jun United States adopts Torquay Protocol: On June 2, 1951, President Harry S. Truman issued Proclamation 2929, implementing the Torquay Protocol to the General Agreement on Tariffs and Trade (GATT). This protocol aimed to reduce international trade barriers by modifying U.S. import duties and other restrictions, reflecting the nation's commitment to global trade liberalization. source: presidency.ucsb.edu
- 15 Jun Colombo Plan operations begin: The Colombo Plan, aimed at promoting economic and social development in South and Southeast Asia, officially began operations on June 15, 1951. This initiative was significant for regional cooperation and development. source: brookings.edu
- 01 Jul Colombo Plan launched: The Colombo Plan for Cooperative Economic and Social Development in Asia and the Pacific was launched on July 1, 1951. Established at the Commonwealth Conference on Foreign Affairs in Colombo, Ceylon (now Sri Lanka) in January 1950, the plan aimed to promote economic and social development in South and Southeast Asia through cooperative efforts among member countries. The plan began operations on July 1, 1951. source: britannica.com
- 15 Jul Folorunso Alakija: Nigerian businesswoman: Folorunso Alakija, born on July 15, 1951, is a prominent Nigerian businesswoman and philanthropist. She is known for her significant contributions to the oil industry and her work in fashion and real estate. source: bbc.com
- 01 Aug Japan Airlines (JAL) Established: Japan Airlines (JAL) was established on August 1, 1951, as a government-owned entity to provide reliable air transportation for Japan's post-war reconstruction. The airline began operations with an initial capital of ¥100 million and headquartered in Ginza, Tokyo. Its first domestic flight was inaugurated on October 25, 1952, using a Martin 2-0-2 aircraft named 'Mokusei'. source: jal.com
- 13 Aug Anglo-Iraqi Oil Agreement of 1951: On August 13, 1951, the Anglo-Iraqi Oil Agreement was signed, allowing Iraq to sell oil directly to international markets, thereby increasing its revenue and reducing British control over its oil industry. source: britannica.com
- 10 Sep British economic boycott of Iran: The British government initiated an economic boycott against Iran on September 10, 1951, in response to the nationalization of the Iranian oil industry. This action escalated tensions between the two nations and had significant economic implications. source: britannica.com
- 11 Sep British economic boycott of Iran initiated: The British economic boycott of Iran officially began on September 11, 1951, following the nationalization of the oil industry. This boycott aimed to pressure the Iranian government and had lasting effects on international relations in the region. source: britannica.com
- 19 Sep Italian civil servants strike: On September 19, 1951, civil servants in Italy went on strike to protest against low wages and poor working conditions. This strike was part of a larger wave of labor unrest in post-war Italy, reflecting the economic challenges faced by the country during this period. source: reuters.com
- 24 Sep Harlow New Town industrial estate opens: The Harlow New Town industrial estate officially opened on September 24, 1951, as part of post-war reconstruction efforts in the UK. This development aimed to provide housing and employment opportunities in a planned urban environment. source: harlow.gov.uk
- 03 Oct Shoppers World Opens: Shoppers World, one of the first modern shopping malls in the United States, opened in Framingham, Massachusetts, marking a significant moment in retail and suburban commercial development.
- 24 Nov Austin and Morris Motors merger: On November 24, 1951, Austin and Morris Motors announced a merger to form the British Motor Corporation (BMC), the largest automaker in Britain at the time. The new company aimed to operate both brands separately, avoiding duplication of models. The merger was finalized in February 1952. source: automotivehistory.org
- 31 Dec Marshall Plan Concludes: On December 31, 1951, the Marshall Plan, officially known as the European Recovery Program, concluded after distributing over $13.3 billion in aid to Western European nations. Initiated in 1948, the plan aimed to rebuild war-torn economies, prevent the spread of communism, and promote political stability in Europe. source: loc.gov
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