Industrial Revolution 4 Flashcards
What is capitalism?
Its where there is no government regulation on price of marketed goods.
Who founded/invented capitalism?
Adam Smith
What was Ronald Reagan philosophy?
Triple down Economics
-to make richest most privilege
Who was Thomas Malthus?
He used science and social studies to make predictions about society and its growths and declines.
What did Thomas Malthus predict?
That we would have exponential growth, and then when the world in linear that we will run out of food and the world would pour into famine and disease.
What was Carrying Capacity?
The limit on how many kids you could have, depending on how much food the earth can supply for the human population.
What is Socialism?
Where major corporations are controlled by the government instead of 1 person
Whats Communism?
No one owns anything, where everyone shares everything nothing is owned by anyone.
Who came up with Communism?
Karl Marx
What was Karl Marx`s theory?
That there would be 2 groups…
-Haves- production, business, society, rich
-Have-nots- no power, poor, workers
He also suggested that there would be a war against the two classes and the Have-nots would win since there were more of them, and then the power would ease the difference and they would be equal.
What was the name of the book that Karl Marx wrote?
Communist Manifesto
