Barrons Euro Study Unit 6

An economic system that prioritizes private companies and groups over the state

A period of rapid technological and social development in Europe during the 19th century

• First started in Britain

land that was shared between poor people to grow crops (not particularly owned by anybody → communal)

The name given to the lower class during the Industrial Revolution → the working class

Laws that governments set after concern rose among the citizens about children working in dangerous conditions

An act that Britain passed that set specific regulations for working in a factory

• after concerns rose about the safety of factory machinery

An act that Britain passed that set specific regulations for working in mines

• after concerns rose about the safety of the mines

An act that Britain passed to restrict the number of hours a child can work

The upper class during the Industrial Revolution (Marx did not like these people)

Marx’s term for when people are aware of the differences between their social class and a different social class

The idea that if the majority of the people are happy, then the action is right

The ideology that things should be regulated by the community rather than individuals

Person that first introduced Utilitarianism (greater good for the greater number)

The person that applied utilitarianism to morality (people should do whatever achieves the greatest amount of happiness)

Tried to provide an explanation why the Industrial Revolution was creating more poverty

• the poor are poor due to divine punishment

person that introduced the Iron Law of Wages

• the poor will stay poor, therefore it is futile to try and change that

person that came up with the idea that the working class is necessary to run an effective society and economy

Stated that all of history can be reduced to a class struggle

• capitalism isn’t the best, but all economic systems lead to communism

• communism is where everybody is equal

developed the rotary steam engine (made improvements to previous steam engines that were less efficient)

Economist who believed that laissez-faire economics was the best → minimal government intervention (lived during the scientific revolution, but was important during the I.R.)