Progressive Ideas and Movements: Capitalism

Flashcards covering key vocabulary related to historical movements and ideas surrounding capitalism and its impacts.

Capitalism

An economic system where the means of production are privately owned and operated for profit.

Socialism

An economic and political system where the means of production are owned collectively and resources are allocated based on need.

Egalitarianism

A belief in the equality of all people, advocating for equal rights and opportunities regardless of social status.

Nationalism

A strong identification with and pride in one's nation, often accompanied by the desire for national independence.

Imperialism

The policy or practice of extending a country's power and influence through colonization or military force.

Darwinism

The theory of biological evolution developed by Charles Darwin, which posits that all species evolve through a process of natural selection.

Chartism

A working-class movement in Britain during the 1830s aiming for political reforms, including universal male suffrage.

Industrial Revolution

A period of major industrialization during the late 18th and early 19th centuries, transforming economies from agrarian to industrial.

Enlightenment

An intellectual movement in Europe during the 17th and 18th centuries emphasizing reason, science, and individualism over tradition.

Social Contract

A theory proposed by Rousseau, suggesting that governments are formed by the consent of the governed, who in return give up some freedoms.

Invisible Hand

A term coined by Adam Smith to describe the self-regulating behavior of the marketplace, where individuals' self-interest leads to economic prosperity.

Trade Union

An organized group of workers formed to protect their rights and interests in the workplace.

Communism

A political and economic ideology advocating for the elimination of private property and the establishment of a classless society.