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21 Cards in this Set
- Front
- Back
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stock
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certain rights of ownership
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corporation
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a business owned by stock holders
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laissez faire
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the idea that government should not interfere with or regulate industries and business
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Adam Smith
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a proffessor defended the idea of a free economy or free markets. he wrote the wealth of nations
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capitalism
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an economic system based on private owenrship and on the investment of money in business ventures in orders to make a profit
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utilitarianism
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the theory proposed by jeremy Bentham said that govet actions are useful only if they promote the greatest good for the greastest number of ppl
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socialism
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an economic ssytem in which the factors of production are owned by the public an doperate for the welfare of all
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karl marx
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German Journalist- introcuded the world to a radical type of socialism called Marxim. wrote communist manifesto
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communism
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an economic system in which all means of production-land, mines,factories railroads and property does not exist na dall goods and services are shared equally
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unions
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an association of workers formed to bargain for better woking condition and higher wages
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strike
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to refuse the work in order to force emloyers to meet certin demands
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middle class
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social class of skilled workers
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mancherster
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industrial city in northern england
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moses brown
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1st factory in rhose island
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francis cabot
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built a factory with everything in it, mechanized every stage clothing making stats waltham than moves to lowell
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william Cockerill
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similar to slater bring info of the industrialization to belgium
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thomas malthus
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essay on the Principle of population. 1 popu. raises faster than food supply says war and diseases would get rid of ppl
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dave ricardo
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principles of political economy and taxation. 1 perminent underclass 2. supply and demand in regard ro labor force
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John Staurt Mill
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questions unregualted capitalism wanted to help the ordinary walkin ppl
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robert owen
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improves the workin conditions in GB oves ot US and starts Utopian community called new harmony
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charles Fourie& Saint-simon
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founders of socialism factors of producation own by the public and use for the effort of everybody
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