Inventions
This invention powered much of Industrial Revolution, simply running on heat and water
The Steam Engine
A wealthy person who succeeds as business because of their ruthless, cut throat, no good, dirty business tactics.
Robber Baron
Child Labor
If you work a job under capitalism, you'll probably have one of these, who usually makes a lot more money than you do.
Boss/Owner
Another name for communism used more frequently in the US and Europe in the 21st century that starts with an S
Socialism
Hello! Can you hear me now? This invention made it much easier to communicate over long distances from the comfort of your own home.
The Telephone
A wealthy person who succeeds in business because of their innovation, willingness to give back to the community, and overall admirable smarts
Captain of Industry
This was how long the average workers shift was in a factory during the Industrial Revolution, often leaving them no time much else but sleep when they got off.
15-17 hours
This is the most important aspect of capitalism, and the reason prices go down while wages go up (at least in theory)
Competition
A group of workers collectively acting together for their own good and interests.
Labor Union
Just flip and switch, and this invention will help you see better without candles or oil lamps
The Light Bulb
The process of transitioning from making things by hand individually to making them in factories. It lends its name to the time period.
Industrialization
Compensation for hours worked at a job. During the industrial revolution it was often very low. Today, there's at least a minimum one thanks to labor unions.
Wage
Despite giving you the ability to get rich, one of the major critiques of capitalism is that it causes this, or another word for things not being equal.
Inequality
According to this "Theory of Value", workers putting in effort makes an item worth something
Labor
The Telegraph
This Cleveland, Ohio native made his empire in the oil industry, at one time controlling 90% of America's oil supply.
John Rockefeller
Workers moved from farms to cities to seek jobs, often leading to over crowding and terrible living conditions thanks to this term that starts with a U
Urbanization
His 1776 best seller "The Wealth of Nations" advocated for free trade and private ownership of property. Today, we call this ideology capitalism
Adam Smith
The man who wrote "The Communism Manifesto" in 1848 who is credited as the creator of communist ideology
Karl Marx
This invention, created to make cotton easier to pick, helped establish slavery as one of the most important economic institutions in the United States
The Cotton Gin
This Scottish immigrant became the King of Steel when he brought the Bessemer process to the United States and founded US Steel.
Andrew Carnegie
Workers receive these thanks to labor unions, including retirement, healthcare, and vacation time.
Benefits
It refers to people acting in their own self interest and accidentally helping their communities, not to be confused with a ghost!
The Invisible Hand of the Free Market
Under communism, these are owned collectively and refer to anyway money can be made (Example: factory, land, machinery)
Means of Production