Capitalism

economic and political system in which a country's trade and industry are controlled by private owners for profit.

Laissez-faire

Policy that government should interfere as little as possible in the nation's economy. Hands off

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

Proletariat

working class

Marx's term for the exploited class, the mass of workers who do not own the means of production

Bourgeoisie

the class which controlled the means of production as well as almost all of the wealth. Took advantage of the working class