1950s
In Technology: Data Processing MSOPS* $58.00 1951 The LEO computer runs the world's first regular routine office computer job
UNIVAC, the first commercial computer system in the U.S., is introduced 1952 Norman Woodland and Bernard Silver awarded patent for the bar code
IBM introduces the 701, its first electronic stored-program computer 1955 Bank of America and SRI complete a prototype of ERMA 1956 John McCarthy coins the term "artificial intelligence" 1957 Ken Olsen establishes Digital Equipment Corp. 1958 Seymour Cray builds the first fully transistorized supercomputer 1958 Jack Kilby at Texas Instruments makes the first integrated circuit 1959 Computer Science Corp. sells the first packaged program
IBM introduces its 1401 model
In Business: Post-War Growth
DOW† 201.80
* Total cost of computing in 1998 dollars per MSOPS (Millions of Standardized Operations Per Second). This metric was devised by Dr. William D. Nordhaus, Sterling Professor of Economics at Yale University, to correct for deficiencies in MIPS, a common measure of computing power. A MSOPS machine can add 20 million 32-bit integer numbers in one second. The number for each decade is an average of representative computer systems around the beginning of the decade.
† The Dow Jones Industrial average for the first day of each decade.
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