Laisse-Faire

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adam smith

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a sottish economist who set downh the workings of a laisses-faire economy.in the wealth of the nations, smith stated that an economy works best when the natural forces supply and demand operate without goverment interference.

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adam smith

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a scottish economist who det down the workings of a laissez-faire economy. In the walth of nations, smith stated that an economy works best when the natural forces of supply and demand operate without goverment interference.

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mercantilism

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belief that only fixed amount of wealth exsisted in the world and in order to increase wealth, one country took from another aountry E>G> colonization

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socialisim

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belief that means of production should be owned and controlled by society, wither directly or through the goverment.

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cummunism

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belief that society should exist without class distictions or private peoperty

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thomas mlthus

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1. professor of economics 2.believed population to human progress 3.believed population was growing at a geometric rate and food supply at an arithmetic rate

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jeremy Mentham

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BElieved every act in society should be judged in terms of its utility ( usefulness) 2. thoery became known as " utilitarianism" 3. a law was good if it led to " the greatest good for the greatest number of people

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john sturat mill

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1.believed goverment should distribute wealth by taxing income 2.wrote "on liberty" and believed in equal rights for all even women

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robert owens

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1.Most influential uptopain socialist, (called utopian after Thomas MOre's model community -Uptia 2. Believed in natural goodness of people and cooperation over competition 3. Established cooperation communities in Britian and U.S. ( new harmony, IND)

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Karl MArx

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1. believed all great change in history due to economic conditions and est. scientist basis for socialism
2. many stages involving INEQUALITY, therefore struggle between owners or BOURGEIISIE
3. and working class or proletariat

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a better society

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1800's reformers set out to improve the lies of the disadvantaged, especially enlsaved people and the urban poor. at the same time, a new gerneration of thinkers questioned laissez-faire and urged goverment to work for a better society.

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evanagelicals and reform

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1700-1800 a serious or religous awakenings swept through the protestant churches

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utilitarian reformers

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was promoted by Jeremy mentham, it was the idea that society should work for " the greatest happiness for the greatest number" of citizens

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marx's theory

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marx based his ideas in part on the teachings of the german philosopher G>W>F. Hegel.