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PCS Global 10C

Industrial Revolution/Economic Thinkers

Karl Marx and Friedrich Engels wrote Communist Manifesto
John Stuart Mills to help working class; population grows faster than food supply
Thomas Malthus believed the population would outpace the food supply
Robert Owens didn't believe in laissez faire system of government; begins social reforms
James Watt improved on the steam engine
David Ricardo have more children if pay increased; wrote Iron Law of Wages
Adam Smith wrote Wealth of Nations
Eli Whitney invented the cotton gin to quickly remove seeds from cotton
Communist Economic Theory believed two social classes (have/have nots), people couldn't own private land, government should have complete control
Created by: Ms.Sala