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Economic Plans implemented in the USSR that focused on developing one aspect of the economy.
General and leader of Nationalist China after 1925. Although he succeeded Sun Yat-sen as head of the Guomindang, he became a military dictator whose major goal was to crush the communist movement led by Mao Zedong.
Labor Theory of Value
An economic principal created by Marx in which the worker receives all the money made when selling the good they produced.
A group of political parties landing together to become the majority party in the government. Often seen in English politics
Wealth of Nations
Written by Adam Smith
Iron Law of Wages
A book written by David Ricardo
A cabinet from the minority party that follows the majority cabinet around.
Literally "restructuring"; a term applied to Gorbachev's economic, political, and social reforms in the Soviet Union
Leader of the Mensheviks
Written by Thomas Malthus
Essays on the Principles of Population
Person who takes the initiative and risk of starting or expanding a business
A Russian Political Party that took control of the government from the Mensheviks.
Free Enterprise System
A capitalist economy, valuing individual choice and effort
Laws of supply and demand
Limited supplies, rising prices; plentiful supplies, dropping prices; high demand, high prices; low demand, low prices.
A corporation's exclusive control of a commodity or service in a particular market which makes it possible for them to control and/or manipulate prices. Following the Civil War, business leaders increasingly moved to combine competing corporations to create this.
Karl Marx books
Coined the phrase "the greatest happiness for the greatest numbers"
Author of the Iron Law of Wages
The first fascist dictator
Against the emerging capitalist class.
Countries that provide social services at little or no cost to the people
Another name for the industrial middle class supposedly continually oppressed by the bourgeoisie.
Author of the Essays on the Principals of Population
The longest serving fascist dictator
An atheist who believed the Church helped the bourgeoisie oppress the proletariat. He also was an internationalist, believing that the state served only the ruling classes.
Founder of Utopian Socialism
Partner with Karl Marx and coauthor of Das Kapital