Andreao2011’s Weblog

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April 17, 2008 · Leave a Comment

1. Free enterprise:  system in which economy forces work automatically and naturally, without mercantilism laws or regulations.
2. Laissez- faire: beliefe that the gorvenment shouldn’t interfere with the operation of businesses.
3. Humanitarians: people who work to improve the conditions of others.
4. Utilitarianism: belief that a law was useful of it led to ” the greatest happiness of the greates number” of people.
5. Strike: refusal of workers to work until their demans are met.
6. Unions: associations of workers that combine forces and demands of different workers.
7. Collective bargaining: process of negotiation between management and union representatives.

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1. Adam smith: Scottish economist who wrote ‘ inquiry into the nature and causes of the wealth of nations’
2. Thomas Malthus: an Anglican clergyman who became a professor of economics.
3. David Ricardo: British economist wrote that working -class poverty in inevitable. Author of principles of political economy and taxation.
4. Charles Dickens: english writer. Used his novels to attack greedy employers.
5. Jeremy bentham: he put forth the theory of utilitarianism
6. John stuart mill: English philosopher who believed that the government should work for the good of all its citizens.

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