Frederick W. Smith

“The Myth of the Robber Barons” by Burton W. Folsom, Jr sheds a different perspective about early entrepreneurs in early America. The book portrays some key entrepreneurs as the reason for economic growth of the United States and America’s greatness. It also argues the misconception and mislabeling of “Robber Barons” of the 19th century. People named “Robber Barons” had a negative connotation attached to their name but Folsom argues that Robber Barons tremendously helped America and have been…

Transformation has remained an influential text especially in the fields of sociology, history and anthropology (Block 275). Polanyi believed that there was a series of myths surrounding the origins and workings of capitalism that began with Adam Smith and his book Wealth of Nations. The Great Transformation looks to counter some of those myths by adding an anthropological and historical analysis. Polanyi claims that our market driven society is a historical novelty (Watson) and that for the…

demonstrating that all matters as natural; therefore, it is nature itself that pushes a society to become commercialized. Smith introduces the division of labor as a product of self-interest because it is in human nature for one to seek to produce more goods. Division of labor is seen as “the greatest improvement in the productive powers of labour” (Smith 3). Through the pin factory example, Smith demonstrates how the division of labour operates through specialization. By having individuals…

prophet, Joseph Smith, Jr. Situated on a bend of the Mississippi River in Hancock County, Nauvoo grew rapidly during the next seven years as a flood of Latter Day Saints settled in the area. Finally, it would seem that the Mormons had found a place, a holy city where they could practice their faith without the fear of persecution from others. Unfortunately, the peace would not last long due to many different reasons that will be explored in this paper. The Mormon prophet, Joseph Smith Jr.,…

1.A. Adam Smith describes how productivity growth in economics can lead to economic growth. Smith being an optimist himself saw that the driving force of capitalism would be self-betterment, a yearn for profit, and the desire to make money. One method to increase productivity was to enhance the division of labor. Organization is one way to enhance the division of labor and thus their productivity of labor. Firms also seek to use capital, mainly in the forms of machinery, to aid in the…

One major point made by Adam Smith in his philosophy of economics is the idea that self-interest is the main influence to the flow of capitalism. Self interest in this context is the desire to have personal gain, which as a whole promotes the state of the economy. Smith provides a metaphor for economic interest in “The Wealth of Nations” when stating, "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.…

Ariel, a collection of Sylvia Plath’s poems released in 1965 after her suicidal death, transmit melancholy and agony to anyone who reads it. This depression in her poems was caused after her husband, the poet Ted Hughes, left her for another woman. Plath’s writing style has always been criticized for being excessively autobiographical and because of her continuous suicidal suspicion. However, Plath has never been criticized for the irony of the poem “The Applicant” compared to the rest of her…

Topic: Combating Corporate Globalization Step-by-step “Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all” - John Maynard Keynes (Quote investigator) Introduction Multi-national corporations seize their unregulated political power to maximize profit via unfair trade agreements and deregulating financial derivatives at the expense of human rights and tax paid by the general public. Corporate globalization reduces…

Deception Can Ruin You (An Analysis on Macbeth) “Actions speak louder than words and in the tragedy Macbeth, the actions of the central characters are screaming” (Drake). “Macbeth” is a tragic play produced by the well-known playwright William Shakespeare. This play began to spark multiple controversies over Shakespeare’s work. In 1606, this play was officially showed, and Shakespeare made some brave decisions regarding the scenes involved in the play. Although this is a well-known play, only…

each other when they lack in resources and also are inefficient to satisfy their own wants and needs. The production of goods and services in countries that need to trade is based on two fundamental principles, first analysed by Adam smith in late 18th century. Adam smith focused on only one factor of production i.e. labour. The other important principle is comparative advantage by David Riccardo, who also considered labour as the only unit of input. There are many advantage of trade, few of…