HW#20

1) Terms And Names
Laissez faire- An economic policy of letting owners of industry and business set working conditions without interference.
Adam Smith- A professor at the University of Glasgow, Scotland, who defended the idea of a free economy, or free markets.
Capitalism- An economic system in which money is invested in business ventures with the goal of making a profit.
Utilitarianism- A philosophy in which people should judge ideas, institutions, and actions on the basis of their utility, or usefulness.
Socialism-An economic system in which the factors of production are owned by the public and operate for the welfare of all.
Karl Marx- A German journalist who introduced the world to a radical type of socialism called Marxism.
Communism- A form of complete socialism in which the means of production—all land, mines, factories, railroads, and businesses—would be owned by the people.
Union- Voluntary associations which workers join to press for reform.
Collective bargaining- Negotiations between workers and their employers.
Strike- Refusal to work.

2) Taking Notes
Capitalism is an economical system that was based on the foundations of many people. Marxism is a type of socialism created by Karl Marx. In capitalism, government can't intervene with businesses. Businesses compete with other businesses in order to provide goods and services at a less expensive cost and better quality. At the same time, consumers try to purchase these products at the least cost and best quality. Marxism are the ideas of Karl Marx. The ideas of Marxism says that the Industrial Revolution is increasing the struggle between classes. Workers are exploited by their employers for their own profit. Marxism says that as capitalism goes on, eventually it would destroy itself. A society will develop in which there will be no classes.

3) Identifying Problems 
During the 1800s, factory workers had to work for long hours under dangerous working conditions and had to worry about being laid off. These working conditions caused many people in the 1800s to actively be a past of politics. People joined unions in order to push for reforms to be made. Unions would participate in collective bargaining, a negotiation between workers and employer, in order to get better working conditions and higher wages. If these demands were refused by the employer, then the workers wouldn't go to work or go on strike.

4) Analyzing Themes 
In my opinion, economic forces aren't the only forces that dominate society. There are plenty of other forces put there such as ethic loyalties and the desire for democracy. Many historical events such as revolutions were made possible because of these different forces. During the French Revolution, people desired a democracy in order to have more rights for the people. This driving force caused the people to overthrow their king and to set up a new government. In the 1800s, Nationalists began to create nation-states which were occupy by people of the same ethics and common bonds. These people fueled by their ethnic loyalties fought in many wars to unify their people together.