Wealth Accumulation

Definition

Wealth accumulation refers to the process of accumulating financial assets, property, or resources over time. In the context of early industrial revolution, it refers to how certain individuals or groups acquired substantial wealth through their involvement in industrial activities.

Related terms

Capitalism: An economic system based on private ownership of resources and means of production where individuals can accumulate wealth through investment and profit-making.

Robber Barons: A term used to describe wealthy business tycoons who gained immense fortunes through unethical or exploitative practices during the early industrial revolution.

Laissez-faire: An economic philosophy that advocates for minimal government intervention in the economy, allowing individuals to accumulate wealth freely through market forces.