1982: The Dow Jones Industrial average, a barometer of stock market activity, tops the 1000 level for the first time.

Today: In 1999 the Dow Jones Industrial average tops the 10,000 level for the first time, reflecting a booming American economy, record low unemployment, and stable interest rates.

1982: President of the Soviet Union Leonid Brezhev, ruler for eighteen years, dies. He is replaced by former KGB chief Yuri Andropov (who dies the following year).

Today: After the introduction of "peristroika" by President Mikhail Gorbachev, the Soviet Union abandoned communism and centralization in favor of market capitalism and devolution. The current leader of Russia is Boris Yeltsin, whose initially charismatic presidency has since become characterized by erratic behavior and an inability to control economic chaos and endemic corruption.

1982: Britain goes to war against Argentina over a territorial dispute involving the Falkland Islands. British forces defeat Argentina after a ten-day...