1.Laissez faire: the economic policy of letting owners of industry and business set working conditions without interference.
Adam smith: He defended the idea of free economy, or free market.
Capitilism:an ecomonic system in which money id transvested in business ventures.
utilitartianism:judge ideas, institutions, and actions based on their utility.
socialism:the factors of production are owned by the public and operate for the welfare of all.
Karl Marx: He introduced the radical socialism of Marxism.
Comunism: a form of complete socialism that is owned by people.
union:collective bargaining.
collective bargaining:negotisnts between workers and their employers.
strike: to hit
2.Capitalism:it is inested in business ventures.
both: both of them have to do with money.
Marxism: it argued about bad conditions for poor workers.
3.The main problems were that the union did not want to replace the skilled workrers. They weren"t helping the poor workrers a lot. But then the unions shared goals of making safe conditions and raising wages.
4.i think it is very important because economy is money. If it goes down it's bad. It has to be ina good level.
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