Term | Definition |
---|---|
Capitalism | an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. |
Free Enterprise | the practice of free enterprise in an economy, or the right to practice it. |
Communism | a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state. |
Social Darwinism | States that society progresses through competion, with the most competive rising to positions of wealth and power. |
Corporation | A company that sells stock to investors in order to raise money. |
Trust | |
Monopoly | |
Vertical Integration | |
Horizontal Integration | |
Cornelius Vanderbilt | |
George Pullman | |
Horatio Alger Jr. | |
Andrew Carnegie | |
John D. Rockefeller |