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New Ways of Thinking

New Ways of Thinking. Chapter 19-4 p.622. Laissez-faire Economists. Thomas Malthus Population > food supply War, disease, famine Fewer children David Ricardo “Iron Law of Wages” People will improve on their own. Utilitarians.

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New Ways of Thinking

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  1. New Ways of Thinking Chapter 19-4 p.622

  2. Laissez-faire Economists • Thomas Malthus • Population > food supply • War, disease, famine • Fewer children • David Ricardo • “Iron Law of Wages” • People will improve on their own

  3. Utilitarians • Utilitarianism – The greatest happiness for the greatest number • Jeremy Bentham • Wanted limited government • John Stuart Mill • “The only purpose for which power can be rightfully exercised over any ember of a civilized community, against his will is to prevent harm to others”

  4. Socialist Thought Emerges • Socialism • People as a whole, rather than private individuals would own and operate the MEANS OF PRODUCTION • Utopians • Robert Owen

  5. Marxism • Karl Marx & Friedrich Engels • 1848 - The Communist Manifesto • Communism • Haves(_________) VS. Have-nots (__________) • 1860s – Germany • 1917 – Russia • Nationalism over Marxism

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