Chapter 9 Section 4
Order by
28 terms
Terms | Definitions |
|---|---|
 Adam Smith | a professor at the University of Glasgow, Scotland defended the idea of free economy or markets in his book "The Wealth of Nations" (economic liberty guaranteed economic progress, Gov. shouldn't interfere) |
| Thomas Malthus | wrote "An Essay on the Principle of Population" in 1798. Argued that populations tended to increase more rapidly than food supply. Without wars and epidemics to kill off extra people, most were destined to be poor and miserable. |
| David Ricardo | a wealthy stockbroker that wrote "Principles of Political Economy and Taxation" (1817). Believed permanent underclass would always be poor. In the market system, if there are many workers and abundant resources, then labor resources are cheap and the other way around. Believed wages would be forced down as population increases |
| Jeremy Bentham | introduced utilitarianism. Argued that people should judge ideas, institutions and actions on the basis of their utility, or usefulness. Gov. should try to promote the greatest good for the greatest number of people. The individual should be free to pursue his or her own advantage without interference from state. |
| Laissez faire | the economic policy of letting owners of industry and businesses set working conditions without interference. (Let people do as they please). Thinkers thought that creating minimum wage laws and better working conditions would upset the free market system, lower profits, and undermine the production of wealth in society. (don't help poor) |
| Free trade | the flow of commerce in the world market without government regulation. French economic philosophers believed it would help economy prosper |
| Capitalism | an economic system in which money is invested in business ventures with the goal of making a profit. Ideas help bring about Industrial Revolution |
| utilitarianism | idea that the goal of society should be to bring about the greatest happiness for the greatest number of people |
| John Stuart Mill | led utilitarian movement in 1800s. believed workers conditions were unfair (wanted equality) favored cooperative system of agriculture and woman's rights |
| utilitarians | wanted equality for all. pushed for reforms in legal and prison systems and in education |
| Robert Owen | improved conditions for his employees. built houses and rented them at low rates (no children under 10 working in mills) and provided free schooling. founded "utopia" in New Harmony, Indiana in 1824 (3 years) |
| Charles Fourier Saint-Simon | wanted socialism |
| socialism | an economic system in which the factors of production are owned by the public and operate for the welfare of all. grew out of optimistic view of human nature, a belief in progress and concern for social justice |
| socialists | argued that the gov. should actively plan the economy rather than depending in free market capitalism to do the job. gov. should control factories, mines, railroads to abolish poverty and promote equality |
| Karl Marx | German journalist introduced Marxism. Him and Friedrich Engles wrote ideas in 23 page pamphlet called "The Communist Manifesto." Argued wealthy controlled everything and poor had terrible conditions. IR enriched wealthy and impoverished poor |
| Future according to Marx | capitalist system would destroy itself: factories would leave artisans out of business leaving manufacturers to control all wealth, large proletariat wold revolt, seize factories and mills from capitalists. workers would control government in "dictatorship of the proletariat" state would disappear |
| communism | A political and economic system where factors of production are collectively owned and directed by the state. (no private property) goods and services shared equally |
| unions | voluntary associations. spoke for all workers. after 1825 in Britain |
| collective bargaining | negotiations between workers and their employers |
| strike | refuse to work. union members did that if factory owners refused demands |
| Factory Act | 1833. illegal to hire children under 9 years old. children between 9 and 12 could only work 8 hours. 13-17 year olds couldn't work more than 12 hours |
| Mines Act | 1842. prevented women and children from working underground |
| Ten Hours Act | 1842. limited the workday for children and women who worked in factories to 10 hours. |
| National Child Labor Committee | in USA 1904 to end child labor. union members joined them believing child labor lowered wages for workers. Supreme Court objected law against child labor but allowed states to limit hours |
| William Wilberforce | member of parliament that wanted to end abolition (slave trade). Britain abolished slavery in 1833. |
| Jane Addams | ran settlement houses. these community centers served the poor residents of slum neighborhoods |
| Horace Mann | US reformer. favored free public education for all children |
| Alexis de Tocqueville | French writer that contrasted the brutal conditions of American prisons. |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.