Ap World History Significant Terms part 4

stock market

individuals who buy partial ownership directly from the company when it is formed or later through this. The transactions used to described involving the buying and selling of stock.

Monopoly

Control of a specific business and elimination of all competition. Some corporations became so powerful they could do this, John D. Rockefeller created one in the oil industry.

Bessemer Process

A more efficient way to produce steel, Alfred Knipp of Essem, Germany ran a huge company that used this process and gained a monopoly in the German Steel industry

Transnational Companies

Companies that operate across national boundaries. Debers is an example.

Unilever Corporation

A british and dutch venture, focused on household goods, famously soap, By 1890 it had soap factories in Australia, Switzerland, The USA, and beyond. It used the palm oil for its soap from British West africa, and later Belgian Congo, where it operated huge plantations because these companies were transnational, they gained wealth and influence on a huge scale.

Hong Kong and Shanhai Banking Corporation

A british owned bank opened in its colony of Hong KOng in 1865, focused on Finance, corporate investments, and global banking.

Consumerism

A culture others developed amongst the working and middle class of society in Great Britian and standard living arose. Consumption needed to keep up with production, so producers began to advertise heavily, particularly to middle clase who members had some disposable income, money spent on nonessential goods.

Urbanization

The mass movement of people from rural areas to more densly populated environments. And the growth of cities is the response to envolutionary change.

Labor Unions

Organization of workers that advocated for the right to bargain with the employees and put the resulting agreements in a contract. For most of the 19th century, unions in Great Britain had to organize in secret because the government treated them as enemies of trade. However by the 20th century, they became more acceptable and membership increased. These things improved workers lives by winning minimum wage laws, limits on the number of hours worked, overtime pay and establishment of 5-day work week.

Utilitarianism

John Stwart Mills Philosophes were viewed as this. Rather than a set of timeless moral rules, as many religions did, they sought “the greatest good for the greatest number of people. They wanted to address the growing problem as they saw it, they themselves as moderate, rational advocates of gradual reforms.

Communist Manifesto

A pamplet written by Karl Max and supporter Frendrich Engest that summarized their critique of capitalism, To them capitalism was an advance of feudalism because it produced needless poverty and misery. The contradiction between capitalism divided society into 2 basic classes, Proletariat and Bourgeoisie

Proletariat

The Working class, working in factories and mines often for little compensation. They did the physical and dangerous work, they all had a shared interest as a class to take control of the means of production and share their wealth. A class described in the communist manifeso.

Bourgeoise

The middle class and investors who owned machinery and factories where workers owned goods. A class described in the communist manifeso.

Means of Production

The facilities and resources for producing goods such as machines, factories, mines, and land. What the Burgeoise owns.

Communism

Where socialism that replaced capitalism is replaced by this final stage of economic development, in which all class distinctions would end. A political system in which the government owns all the property and dominates all aspects of life in a country.

Millets

Which were separate legal courts established by different religions communities, each using its own set of religious laws. Christmas in the Balkans protested the war regulations because they felt that their autonomy was being threatened. Muslims protested the reforms because they conflicted with traditional values and practices.

Hatt-i Humayun

Ottoman reform edict, the sultan issued this it updated legal system, declaring equality for all men in education, government appointments and justice regarding of religion and ethnicity the new legal system also regulated the millets. Created by Mahmed 2.

Self-Strengthening Movement

Reform movement in the late 1800s, developed as a way for the government to face the internal and external problems confronting china. Government officials hoped to strengthen China in its competition with foreign powers by advancing its military technolgy and readiness and by training Chinese artisans in the manufacture of items for shipyard and aresenals. French and British advisors helped chinese reforms efforts. A stable government capable of collecting revenue allowed china to repay debts and participate in trade. The chinese government set up its own diplomatic corps and custom service to have taxes on imports and exports. The government’s strategy was to graft some modern ideas and technology onto chinese tradition.

Hundred Days of Reform

The reform of China includes the abolition of outdated civil service exam, elimination of corruption, and the establishment of western-style industrial, commerical, and medical systems. Convinced by Emperor Guangzu to do this.

Bushido

The Japanese samuri code of conduct, was now a personal matter no longer officially condoned by the government. This is because in 1871 Japanese legally disolved their position.