The Wealth of Nations

Redistribution of wealth is such a shocking misnomer it should be struck from language entirely.(2015) Wealth has never been distributed in the first place.Taxation a relatively small amount which winds up in social safety net programs is not wealth being redistributed.The wealth is still very much concentrated right where it is.Taxation is the price of civilization which includes helping people who made no choice to be born who find themselves in need and who might otherwise nullify the right…

the inequality of income and wealth is a social problem and it needs to be addressed. In the Wealth Inequality in America video we watched, it was stated that “the top 1% of America has 40% of all the nation’s wealth”. When the top 1% of the richest people in America have 40% of the total wealth of the nation, that is a problem. This is way beyond the point of the rich and wealth just living a luxurious lifestyle when they have 40% of the total wealth of the nation. I don’t like the idea of…

we underestimate how extreme the modern wealth gap is. “In a national survey, Norton and Ariely (2011) found that U.S. respondents estimated that the richest 20% of the population owns around 59% of total wealth, but believed that this richest quintile should ideally own just 32%. In reality, however, the richest 20% owns closer to 84% of total wealth.” (Norton) We live in a world where a small percentage of the population owns the vast majority of wealth in the United States. This is not,…

As discoveries concerning the New World by nations of the Old World including, but not limited to, European states, progressed, innovations were made concerning the utilization of natural resources found in the New World (the Americas) to continue to promote and benefit the “mother” countries back in Europe. Furthermore, certain practices were used in the Americas, such as the slave trade, to obtain the greatest amount of benefits. However, these practices were not necessarily considered to be…

science having to do with production, consumption and transfer of wealth in a society or country. Scottish philosopher and economist, Adam Smith, is known as the “The Father of Economics.” Smith is known for proposing many modern ideas such as, the invisible hand, gross domestic product, and the theory of compensating wage differentials. He is also greatly known for his books, “The Theory of Moral Sentiments” and “The Wealth of Nations.” Although many economists have followed, Adam Smith’s work…

country the same way in 20 years? Many people have different visions for this country some want change, others want none. My vision for this country is it stay a democratic free nation, not socialist or communist, have this country be the number one trading nation improving our economy, and finally make the country's wealth fall into the top 20 percent not 1 percent. These things will happen due to the dedication of many politicians and people like myself who have these visions.…

has dominated the nation for years and African Americans have struggled severely at the hands of European colonizers who invaded their land, enslaved and exploited them, and forced them to embrace the dominant white conservative values, norms and beliefs. Furthermore, this nation was built on the blood, sweat, and tears of African Americans; however, there has been very little to show for it. Our legacy has been the rudiments of slavery while White conservatives transfer their wealth and…

Adam Smith wrote about consumption in his book in the wealth of the nations. What he said about consumption was that consumption is the purpose of all production. What he also said about consumption was that the interest of the producer thought to be attended only as far as it may be necessary for promoting the customer. When Smith was publishing the book the wealth of the nation consumption wasn’t a common thought at the time. Consumption is now much more of a common thought than back when…

There are generalized ideas about why a nation succeeds or fails but they are just that, generalized ideas. The intelligence of a nation has nothing to do with its GDP, and its success is not determined by its culture or geography. Explaining away the differences in two nations, like North and South Korea, that are side-by-side and were once a single nation by geography and culture simply does not work. What does explain the differences in nations, however, is the political and economic…

found that the myths that were created as the nation emerged, did not include them. By establishing myths such as the Chosen Nation, Nature 's Nation, and Christian Nation, among others, America’s founders contradicted what the journey to America was all about: freedom. Maybe their view is what establishing a nation under these myths was all about. There was no intention of expanding their vision to anyone else. These myths that formed as the nation formed did not leave room for individuality…