Economic Concepts

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Adam Smith

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Wrote "The Wealth of Nations"

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Laissez Faire Theory

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Hands-off approach to economics

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Capitalism

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Economic system based on private ownership

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Karl Marx

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Wrote "The Communist Manifesto"

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Purpose of Karl Marx's Work

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Wanted to overthrow capitalism and develop a fairer system (communism)

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Karl Marx's View on Workers

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Thought workers were being exploited and urged them to unite

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Irish Potato Famine

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A period of mass starvation and disease in Ireland during the mid-19th century.

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Migration due to the Irish Potato Famine

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Millions emigrated to the UK and/or USA.

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Impact of the blight on potatoes

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The blight caused widespread crop failure.

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Result of crop failure in Ireland

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Mass starvation and disease occurred.