AP Euro chapter 17
|Dennis Diderot||edited the encyclopedia; deeply hostile to slavery|
|Four-Stage Theory||theory of human social and economic development; human societies can be classified as hunting and gathering, pastoral, agricultural or commercial.|
1. hunters and gathers have little or no settled life.
2. pastoral societies are groups nomads who tend their herds and develop some private property.
3. agricultural or farming societies are settles and have clear-cut property arrangements.
4. comercial state includes advanced cities, the manufacture of numerous items for wide consumption, extensive trade between cities and the countryside, as well as elaborate forms of property and financial arrangements
|Baron D'Holbach||embraced positions close to atheism and materialism; sought t abolition of religion|
|Laissez-Faire||found by Adam Smith; economic thought and policy which favors a limited role for government in economic life.|
|Salon||the gathering ground for many who wished to discuss the ideas of the French Enlightenment|
|Adam Smith||a Scotish economist who wrote Inquiry into the Nature and Causes of Wealth of Nations who believed economic liberty was the foundation of natural economic system. He attacked England's mercantile system because he belived if hindered the expansion of wealth and production. According to Smith the best way to encourage growth was to let individuals pursue their own selfish economic life known as laizzes-faire economic policy. For him the government's role in the economy should be limited to such activities as providing armies, navies, roads, and schools.|
|Inquiry into the nature and causes of the wealth of nation (1776)||the most economic work of the Enlightenment by Adam Smith; established the basis for modern economics was highly critical of eighteen century mercantilism; a combination of stifling government regulations and unfair privileges for state-approved monopolies and government favorites. Within this Adam Smith embraced the four-stage theory.|
|Capitalism||an economic system in which the means of production and distribution are privately owned and operate in free-market or competitive economic arena|