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opposed government intervention in private business. The law of supply and demand is foundational to a Laissez-faire economy.
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| merger of several businesses into one |
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| change from manual labor to machine |
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| private ownership and distribution of goods competitively in a free market |
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| - investors in corporations who share in the profits |
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| - the piece by piece assembling of a product |
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| - exclusive control of a product |
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| - mass movement to the city |
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| - freedom of private business to compete and to operate for a profit |
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| - negotiations between labor and management |
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| - collective or government ownership of production and distribution |
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| - the Clermont. A steamboat that was nicknamed “Fulton’s folly” by doubtful onlookers |
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| - improved road construction |
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| - Author of “communist manifesto”, and “Das Kapital” |
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| - Assembly line which drastically reduced cost per unit |
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| - invented the first printing press |
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| standardized parts. The cotton gin |
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| - Brothers that invented the airplane |
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