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WELFARE STATE- A social system whereby the state assumes primary

responsibility for the welfare of its citizens.It was created by FDR during

the New Deal.



TRADITIONAL ECONOMY-It's a characteristic of unendustrialized

society. Societies that produce tradition in the old fashioned way where

the son inherits the job that the father had. It's harder for that economy to

modernize when people are fixed in certain roles and traditional occupations.



NATIONAL LABOR RELATIONS ACT-In 1935, guaranteed workers the

right to orgonize unions and
forbade employers to adopt unfair labor

practices. This marked the beginning of the rise of the uninization in the US.



JOHN MAYNARD KEYNES-British economist who proposed that high

unemployment, being a result of insufficient consumer spending, could be

relieved by government-sponsored programs.



WAR ON POVERTY-It was a program of Linden Johnson where in 1964, in

kansian style he sought to spend a lot of money to end the...

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Title: Marketing
Approximate word count: 1827
Approximate pages: 8 (250 words per double-spaced page)

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