On this day

December 7, 1928

Revisit the news, notable people, and historical moments connected to this date.

Notable Births

Noam Chomsky

1928Noam Chomsky, American linguist and philosopher[†]

Avram Noam Chomsky is an American professor and public intellectual known for his work in linguistics, political activism, and social criticism. Sometimes called "the father of modern linguistics", Chomsky is also a major figure in analytic philosophy and one of the founders of the field of cognitive science. He is a laureate professor of linguistics at the University of Arizona and an institute professor emeritus at the Massachusetts Institute of Technology (MIT). Among the most cited living authors, Chomsky has written more than 150 books on topics such as linguistics, war, and politics. In addition to his work in linguistics, since the 1960s Chomsky has been an influential voice on the American left as a consistent critic of U.S. foreign policy, contemporary capitalism, and corporate influence on political institutions and the media.

Mickey Thompson

1928Mickey Thompson, American race car driver (died 1988)[†]

Marion Lee "Mickey" Thompson was an American auto racing builder and promoter.

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Headlines from December 7, 1928

STOCK PRICES BREAK IN DAY OF SELLING AS MONEY HITS 12%; Active Issues Decline 5 to 20 Points, Most Favorites Closing at Low for the Session.HUGE PROFITS CRUMBLEAverage of Fifty RepresentativeShares Drops 6.20--Rate forFunds at 8-Year Peak.ORDERS SWAMP BROKERScome From All Over Country--DealOn for Sale of Exchange Seat at $595,000, a New Mark.

By Unknown Author

The stock market broke sharply yesterday when the highest money rate that Wall Street has had in more than eight years was recorded. With call funds commanding 12 per cent for the first time since July 1., 1920, active stocks dropped from 5 to 20 points and the speculative structure built up over the last year threatened to topple.

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