Capitalism
Economist known as the "Father of Capitalism".
What is Adam Smith?
This is who owns the means of production and commands the economy in socialism.
Who is the government?
The pamplet written by Marx and Engels that outlined the transition of a society from capitalism to socialism and finally communism.
What is The Communist Manifesto?
A system that centralizes workers in a large facility and divides labor.
What is the factory system?
An organization formed to protect the rights of workers.
What are Labor Unions?
Economic policy of no government interference.
What is laissez-faire economics?
An early socialist, this factory owner provided his workers with clean housing, education for children, healthcare, and a 10-hour workday—unheard of at the time. Criticized capitalisms harmful effects on the family.
Who is Robert Owen?
DAILY DOUBLE: According to Marx and Engels, workers would develop _____________ and violently rise up to overthrow the _______________ class and the government that supported it.
What is class consciousness and the bourgeoisie?
The Industrial Revolution started in England because it had these factors (at least 2).
What are easy access to abundant coal, strong property protection laws, high wages, many navigable rivers?
This is a deadly disease that many coal miners contracted.
What is black lung?
Marx's term for the exploited working class.
What is the proletariat?
The main economic criticism of socialism.
What are market deficiencies?
A key distinction between socialism and communism is the abolition of this in the latter.
What is private property?
The result of the expansion of factories centralized in cities.
What is urbanization?
A response to the rise of working class women this became the ideal of true womanhood as striven for by middle class women.
What is the Cult of Domesticity?
Adam Smith said that this is what guides supply and demand in a free market.
What is the invisible hand?
The main political criticism of socialist governments.
What are oppressive governments?
This is how socialist and communist believed one could reduce class inequality.
What is wealth redistribution?
New fertilizers, livestock breeding practices, and farming practices led to a surplus of food with less need for farmers- a prerequisite for the Industrial Revolution.
What is the Agricultural Revolution?
Adam Smith argued against the trade restrictions of this economic system.
What is mercantilism?
This term refers to problems such as monopolies, environmental degradation, and poor working conditions that occur in laissez faire capitalism?
What are externalities?
States that blend capitalist free markets with high taxes and wealth distribution practice this economic system.
What is Democratic Socialism?
This is the name of the 1917 Russian communist revolution (prior knowledge).
What is the Bolshevik Revolution?
This series of laws allowed public common land to be purchased by wealthy landowners, thus depriving the poorest English from a means of survival. Most became factory laborers.
What is the Enclosure Movement?
The form of housing created by rapid urbanization.
What is Tenement housing?