Euro-Economics systems

Mercantilism

An economic policy under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by selling more goods than they bought

Pre-Industrial capitalism

carrying trade + investment in agriculture
Putting-out system- working out of homes

Industrial capitalism

an economic system based on private property production or manufacturing

utopian socialism

moral appeal for capitalists to give ,means of production to the people

socialism

A system in which society, usually in the form of the government, owns and controls the means of production.

communist/revisionist socialism

Marxist, overthrow of current govt.

Agricultural Revolution

The change from food gathering to food production that occurred between around 8000 and 2000 B.C.E. Also known as the Neolithic Revolution.

Industrial Revolution

A period of rapid growth in the use of machines in manufacturing and production that began in the mid-1700s

Second Industrial Revolution

Steel, chemicals, electricity. new wave of more heavy industrialization starting around the 1860s.

Imperialism

A policy of extending a country's power and influence through diplomacy or military force.

colonism

Attempt by one country to establish settlements and to impose its political, economic, and cultural principles in another territory.

Consumer Revolution

flood of new, affordable goods in the decades after World War I

Price Revolution

period in European history when inflation rose rapidly 1600-18750, fuels commercialism

Adam Smith

Scottish economist who wrote the Wealth of Nations a precursor to modern Capitalism.

jean-baptiste colbert

Mercantilist economist was the financial advisor to Louis XIV

Thomas Malthus

an English economist who argued that increases in population would outgrow increases in the means of subsistence (1766-1834)

David Ricardo

English economist who argued that the laws of supply and demand should operate in a free market

Karl Marx

founder of modern communism

robert owen

a Utopian socialist who owned a mill

Jeremy Bentham

British philosopher and economist who advocated utilitarianism

max weber

Father of sociology. Argued that in a capitalist society inequalities would lead to conflict, but that there would be more than one source of conflict.

Milton Friedman

American economist. Conservative thinker famous for his advocacy of monetarism in works like A Monetary History of the United States, 1867-1960. he is strongly associated with the ideals of laissez-faire government policy.

louis blanc

A Paris journalist, editor of Revue de Progres and author of Organization of Work. Proposed social workshops/state supported manufacturing centers as a way to deal with the problems of industrialization(recognized the developing hostility toward the owning class/bourgeoisie).