|
laissez
faire
(laisser
faire)
|
an
economic policy or doctrine that opposes government interference
in or regulation of business or commerce beyond what is necessary
for a free-enterprise system to regulate itself. |
| transformer |
a
device that transfers electric current from one circuit or set
of circuits to another, by means of electromagnetic induction
and usu. for the purpose of changing voltage. |
| infrastructure
|
the
basic facilities and equipment, esp. of a technological nature,
that are necessary for a system or organization to function. |
| assembly |
a group of people gathered together, usu. for a specific purpose.
|
| canal
|
a
man-made waterway for transportation or irrigation. |
| union |
the
act of uniting. |
| utilitarianism |
the
nineteenth-century ethical doctrine that usefulness is the greatest
good and that human action should tend to produce the greatest
good or happiness for the greatest number of people. |
| craftsman
|
a
man who practices a craft or skilled trade; artisan. |
| communism
|
the
theory of a classless social system in which all property and
means of production are owned in common; socialist theory deriving
from the works of Karl Marx and Friedrich Engels. |
| capitalism
|
an
economic system in which the means of production and distribution
are privately owned, and prices are chiefly determined by open
competition in a free market. |
| aqueduct |
a
channel built to convey water from a long distance. |
| socialism |
a
political or economic theory in which community members own all
property, resources, and the means of production, and control
the distribution of goods. |
| proletariat |
the
working class, esp. those who lack capital and must sell their
usu. unskilled labor in order to survive. |
