define Flashcards
socialism
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
synonyms: leftism, welfarism.
utopia
is an imagined community or society that possesses highly desirable or nearly perfect qualities for its citizens. The opposite of a utopia is a dystopia.
Robert Owen
was a Welsh social reformer and one of the founders of utopian socialism and the cooperative movement. He worked in the cotton industry in Manchester before setting up a large mill at New Lanark in Scotland. In 1824, Owen travelled to America to invest the bulk of his fortune in an experimental 1,000-member colony on the banks of Indiana’s Wabash River, called New Harmony. New Harmony was intended to be a Utopian society.
Karl Marx
was a German-born scientist, philosopher, economist, sociologist, journalist, and revolutionary socialist. Born in Trier to a middle-class family, he later studied political economy and Hegelian philosophy. As an adult, Marx became stateless and spent much of his life in London, England, where he continued to develop his thought in collaboration with German thinker Friedrich Engels and published various works, the most well-known being the 1848 pamphlet The Communist Manifesto. His work has since influenced subsequent intellectual, economic, and political history.
communism
a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
Proletariat
workers or working-class people, regarded collectively (often used with reference to Marxism). "the growth of the industrial proletariat" synonyms: the workers, working-class people, wage earners, the working classes, the common people, the lower classes, the masses, the rank and file, the third estate, the plebeians
Democratic
in modern usage, is a system of government in which the citizens exercise power directly or elect representatives from among themselves to form a governing body, such as a parliament.[1] Democracy is sometimes referred to as “rule of the majority”.
socialism
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
synonyms: leftism, welfarism.
communist manifesto
The Communist Manifesto (originally Manifesto of the Communist Party) is an 1848 political pamphlet by German philosophers Karl Marx and Friedrich Engels.
Capitalism
an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
Thomas Malthus
Thomas Robert Malthus was the first economist to propose a systematic theory of population. He articulated his views regarding population in his famous book, Essay on the Principle of Population (1798), for which he collected empirical data to support his thesis.
David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist. He was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and James Mill.
Dictatorship
Dictatorship is a form of government where a country or a group of countries is ruled by one person or political entity, and exercised through various mechanisms to ensure that the entity’s power remains strong
Laissez-faire
is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies. The phrase laissez-faire is part of a larger French phrase and literally translates to “let (it/them) do”, but in this context usually means to “let go”
Adam Smith
was a Scottish economist, philosopher, and author. He was a moral philosopher, a pioneer of political economy, and was a key figure during the Scottish Enlightenment era.[2] He is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics