section 4 social studies
utilitarianism
Judging government by how many people they help
What were the main problems faced by the unions during the 1800's and how did they overcome them?
anti-union laws government is outlawing union strikes
Karl Marx
introduced the world to a radical type of socialism called Marxism
laissez faire
the economic policy of letting owners of industry and business set working conditions without interference.. Let people do what they want
socialism
the factors of production are owned by the public and operate for the welfare of all.
strike
refuse to work
4. What kind of society did early socialists want?
*equal society* government owns the of production in order to end poverty and promote equality
Why do you think that Marx's "dictatorship of the proletariat" did not happen?
After a period of cooperative living and education, the state or government would wither away as a classless society developed. no education
Adam Smith
Father of the free markets system. Promotes Capitalism
Why did workers join together in unions?
The workers wanted a higher pay and better working conditions.
Capitalism
an economic system in which the factors of production are privately owned and money is invested in business ventures to make a profit
communism
a form of complete socialism in which the means of production —all land, mines, factories, railroads, and businesses—would be owned by the people.
union
workers that joined together in voluntary labor associations
3. What were Adam Smith's three natural laws of economics?
•the law of self-interest—People work for their own good. •the law of competition—Competition forces people to make a better product. •the law of supply and demand—Enough goods would be produced at the lowest possible price to meet demand in a market economy.
