| A | B |
|---|
| Laissez-faire economics | Believes a free market, or the unregulated exchange of goods and services, would come to help everyone, not just the rich. |
| Adam Smith | Author of The Wealth of Nations and a main proponent of laissez-faire economics. |
| Thomas Malthus | He grimly predicted that the population would outpace the food supply. And, the only checks to control population groth, he said, were war, disease, and famine. |
| David Ricardo | He pointed out that when wages were high, and families hads more children. But, more children meant a greater supply of labor, which led to lower wages and higher unemployment. |
| utilitarianism | The idea that the goal for society should be "the greatest happiness for the greatest number" of its citizens. |
| John Stuart Mill | He argued that actions are right if they promote happiness and wrong if they cause pain. |
| socialism | The belied that people as a whole, rather than priate individual, would own and operate the means of production. |
| means of production | The farms, factories, railways, and other large businesses that produced and disturbed goods. |
| Robert Owen | He insisted that the conditions in which people live shaped their character. |
| Karl Marx | He saw that the struggle between employers and employees was unavoidable and a revolution would occur with the workers being trimphant. |
| communism | A form of socialism that see class struggle between employers and employees unavoidable. |
| proletariat | The "have-nots" or the workers. |
