Industrial Revolution 2 Flashcards
What did Adam smith write?
The wealth of the nations.
Laissez faire is what?
Adam smith economics.
What is free market?
Unregulated exchange of goods.
What is capatalism?
Its trickle-down economics.
What does Thomas malthus predict?
That population will outpace food supply.
What kept population in check?
War, disease, famine.
What is carrying capacity?
How much the earth can supply humans.
What is socialism?
A way of organizing society where major industries are owned and controlled by the ogvernment rather than individual people and companies.
Who was Karl marx?
A communist german philosipher.
What did Karl Marx write?
The communist maifesto
Who are the have nots?
Workers.
Who are the haves?
People who owned means of production and controlled society.
What did class warfare mean for the future?
Classless society.
