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30 Cards in this Set

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  • Back
Thomas Malthus
wrote books on population that shaped economic thinking for generations
John Stuart Mill
Benthams' chief follower who also argued that actions are right if they promote happiness and wrong if they cause pain
Utopians
self sufficient communities in which all work is shared and all property is owned in common
Karl Marx
a german philosopher who condemned the ideas of the Utopians as an unrealistic idealism
Utilitarianism
the idea that the goal of society should be the greatest happiness for the greatest number of its citizens
Socialism
system in which the people as a whole rather than private individuals own all property and operate all businesses
Means of Production
the farms, factories, railways, and other large businesses that produced and distributed goods
Communism
a form of socialism that sees class struggle between employers and employees as unavoidable
Proletariat
working class
Bessemer Process
a process developed by Henry Bessemer to purify iron ore and produce a new substance known as steel
Alfred Noble
a Swedish chemist who invented dynamite
Michael Faraday
an English chemist who created the first simple electric motor and the first dynamo
Thomas Edison
an American inventor who created the first electric light bulb
Henry Ford
use the assembly line to mass produce cars, making the U.S. a leader in the automobile industry
Orville and Wilbur Wright
designed and flew a flimsy airplane
Guglielmo Marconi
an Italian pioneer who invented the radio
Alfred Krupp
inherited a steel making business from his father
Dynamo
a machine that generates energy
Interchangeable parts
identical components that could be used in place of one another
Assembly Line
production method that breaks down a complex job into a series of smaller tasks
Stock
shares in companies
Corporation
businesses that are owned by many investors who buy shares of stock
Cartel
an association to fix prices
Louis Pasteur
a French chemist who clearly showed the links between microbes and disease
Robert Koch
A German doctor who identified the bacteria that caused tuberculosis, a respiratory disease
Florence Nightingale
a British army nurse who insisted on better hygiene in field hospitals
Joseph Lister
An English surgeon who discovered how antiseptics prevent invection
Germ Theory
idea that certain microbes might cause specific infectious disease
Urban Renewal
rebuilding of the poor areas of a city
Mutual Aid Society
self help group set up to aid sick or injured workers