Chapter #5 Section #4 New Ways of Thinking Key Terms

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New Ways of Thinking
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utilitarianism
socialism
means of production
communism
proletariat
social democracy
I.
Laissez-faire economics
A. Adam Smith and free enterprise.
1.
2.
II.
Malthus holds bleak view
A. Thomas Malthus predicted that population would outpace
food supply.
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B. David Ricardo shares view.
1.
2.
Utilitarians for Limited Government
1.
What did John Stuart Mill see as the proper role of
government?
Socialist Thought Emerges
2.
What did early socialist believe?
Karl Marx Explains Class Struggle
3.
What did Karl Marx predict was the future of the
proletariat?
Marxism in the Future
4.
How accurate did Marx’s predictions about social classes
prove to be?

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