Political and Economic Theories and Concepts

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socialism

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A political or economic theory in which community members own all property, resources, and the means of production, and control the distribution of goods

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imperialism

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The policy of extending the rule or authority of one nation over others by territorial acquisition or through economic or political dominance

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industrialization

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The introduction of industry into a region or country

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capitalism

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A competitive economic system in which products and production means are owned by individuals or private groups

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suffrage

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The right to vote in a political election.

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abolition

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Of or pertaining to the fight to end slavery

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liberal

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Relating to democratic forms of government rather than monarchies or aristocracies; (in a political context) relating to or denoting a political and social philosophy that promotes individual rights, civil liberties, democracy, and free enterprise

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proletariat

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The working class, especially those that lack wealth and must sell their usually unskilled labor in order to survive

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nationalism

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The idea that citizens of a country are part of something bigger than themselves and that they are loyal to a set of national ideals and practices

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sovereignty

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The power of self-government, with independence from outside control; autonomy.