Chapter Three Section Four Flashcards
Articulated by David Ricardo, it says that when wages are high people have more children, leading to increased labor, which would then lower wages
“Iron Law of Wages”
An early Industrial Age thinker who predicted the effects of population explosion- he predicted trouble for the poor
Thomas Malthus
Actions are right if they promote happiness, wrong if they cause pain. He wanted to improve the lives of working people through government intervention
John Stuart Mill
Early socialists who tried to build self sufficient communities in which all work was shared and all property was owned in common
Utopians
A pamphlet written by Karl Marx and Friedrich Engels which outlines class struggles between the rich and poor
The Communist Manifesto
The goal of society should be the greatest happiness for the greatest number of people
Utilitarianism
The people as a whole, rather than private individuals, would own the means of production
Socialism
A form of socialism that sees class struggle between employer and employee as inevitable
Communism
The working class
Proletariat