1
Capitalism
economic and political system in which a country's trade and industry are controlled by private owners for profit.
2
Laissez-faire
Policy that government should interfere as little as possible in the nation's economy. Hands off
3
Marxism
Karl Marx
the goal was the conquest of political power by
workers, the abolition of private property, and the eventual
establishment of a classless and stateless communist society
4
Proletariat
working class
Marx's term for the exploited class, the mass of workers who do not own the means of production
5
Bourgeoisie
the class which controlled the means of production as well as almost all of the wealth. Took advantage of the working class