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m Wrote the wealth of nations and wrote about economics. He attacks the
economic conception/theory of mercantilism
m ©ercantilism was an economic system adopted by the European colonial
powers in the 1600s, it was developed to support and enhance the absolute
m Jouis the `4th of France needed this system to create wealth
m ¦ationalize is that it was created to enhance the wealth of the state
m ©ercantilism was developed to create trade, foster trade and with that you
need markets
m Ôhe idea is a favorable balance of trade
m Ôhis is a economic concept to try and have more exports than imports
m |urplus wealth = more money made than you are spending
m Ôhe concept is about self-efficiency meaning the state can support itself
m War is seen as inevitable at the time
m War is just another form of means = battling for resources
m Jouis creates an army that are loyal to him and use military tactics, weapons
and need money to properly carry out military affairs
m ©erchants became involved, they are the ones who do the actual trade so
they were essential, they were involved in manufacturing of the goods, wages
were purposely kept low and in the case of slavery they werenǯt paid
m uanks were created and established Ȃ bank of England, bank of France
m |tock companies were established Ȃ Hudson bay co
m He says the state is doing too much to destroy profits because they are
imposing large amounts of taxes and guilds meaning you had to pay tax
between small counties
m Free trade is being argued, he wants it to be allowed and uninterfered with
he claims it will create more wealth
m He argues the economy doesnǯt need to be regulated by the state and can
regulate itself
m He introduced the law of supply and demand Ȃ the invisible hand that will
correct the market wherever it goes
m He wants to create labour because labour gives money itǯs worth
m Jabour creates competition which leads to greater efficiency Ȃ reducing the
amount of wasted resources on particular products
m JEAD| to ¦  Ȃ return on investment
m He accepts and advocates self interest Ȃ greed Ȃ because greed will create
competition, which will create labour value and value of goods Ȃ and supply
will meet the demand
m Allow individuals to pursue what they want to
m ÿerman philosopher part of the socialist utopians
m art of the elighmentt period because he beliebes you can perfect society
m Also attacks the idea of private property and self interests
m ©arx is a philosopher, sociologist, economist,
m Wrote the book communist manifesto with Fredrick angles
m He says Dzworkers of the world unitedz
m uases his political, sociological, philosophical idea on workers and in his
analysis he divides society into classes
m [lass a) capitalist class Ȃ own the means of production, class b) workers Ȃ
they have nothing except the weapon of labour, without them and their
labour the capitalist can make nothing
m Argues if you can change the environment of an economic system you can
create a utopia
m |ocial change is only accomplished through class conflict
m He attacked religion and said it is the opium of the masses, itǯs a drug that
will fool you and trick you, it teaches you what you will accept and let god be
your judge
m He says religion is a tool to control you
m Ôhe government, law, is a tool of the capitalists and the rich get away with
everything cause they have money
m |ays the whole economic system must be destroyed
m roletariat are the ones who understand how economy works
m He says violence is necessary to change Ȃ the ends will justify the means and
the war against capitalists have to be overthrown
m [apitalists must be destroyed
m He says this revolution can only happen in the most highly industrialized
area which is in England, and ÿermany at the time
m He said ¦ussia is the most backward of European nations and least likely to
let it happen
m Jenin says the system has to be sped up, while marx says you have to let it
take its time and only when the workers actually realize it
m ‰ationalism is another tool
m Jed by Edourd uernstein
m ¦evisionist means as the word revise,
m [reated evolutionary socialisnm
m |ays we donǯt need violence to change the economic system but vote
m Argues that through education and political campaigning, you can change
and that the state doesnǯt need to be destroyed but can actually help the
workers through education
m Ôhe state can intervene and share the wealth
m Ôrade unions are what fight for these rights
m eaceful change, gradual change to the socialist model
m Examples: uritain labour party, france, ÿermany
m ‰D today is the successor of the revisionist socialist model

m He promotes anarchy in ¦ussia
m urest form of convservasit
m Argues individual rights are the most important and state cant do anything
for you, it is useless
m s dedicated to assassination of the state because it is intrusive to individual
m |pread in ¦ussia and some parts of central Europe where there is a strong
government/autocratic presence

olitical power is a stateǯs ability to exert influence and control over its

Ôraditional authority is achieved through a claim of divine right.

Jegal authority is when you are given authority over a particular population Ȃ
first example was King John who had to sign the magna carta.
Writ of habeas corpus means present the body
Autocratic authority is when authority is seized by force