The Wealth of Nations

inequality worldwide is based on three factors, globalization, technology and the unequal distribution of wealth will help us to understand why income inequality plays such an important role in society today. For the past 30 years, men and women around the world have experienced income inequality regardless of an individual’s education and occupation because men and women should be treated with equal wealth distribution. The advancements made in technology enhance globalization, and thus…

lived during the economic system mercantilism, where countries would gain wealth through trades with other counties. We now call it commercialism. In 1776, as the American Colonies were declaring independence from England, Smith published The Wealth of Nations. He came up with the idea of freedom in economy. Smith says “ Every man is left perfectly to pursue his own interest in his own way” (Doc C). Most people worked for wealth in the support of industry. Smith’s main idea was for people to do…

It is known that we as a nation give money to other nations who actually dislike us, this should stop. We also pay Social Security too many who don’t deserve it; my example is a cousin who had scoliosis and even after surgery, he sits on his royal… and collects a check while getting high on “legal” marijuana. I am sure he is not the only one. We as a nation are also slow to respond to disasters; that is where the mega rich should jump in…

improved means of transportation such as ships, and new innovations such as the astrolabe, allowed for a new era known as the Age of Exploration. With this new technology of the fifteenth century, European nations began to colonize quickly with intentions of becoming a global empire. One European nation that began to take advantage of the technological advancement was Spain. In the year of 1492, Spain decided to begin its age of exploration by sending…

them differed greatly. While Hayek had centuries of analysis at his disposal, Smith had little prior research with which to expand on in his writings. However, despite this information asymmetry, the theories that Adam Smith presents in The Wealth of Nations overlap significantly with those discussed by Friedrich Hayek in The Use of Knowledge in Society. Both are strong critics of central planning and are advocates of the division of labor and pursuing…

Post-industrial nations, such as the United States, have slowly moved in the direction of a plutocracy, a government controlled by the wealthy. The financial disparity between the majority of the population and the top one percent has grown exponentially since the 1980’s. The top 1 percent control over 40 percent of the wealth in the United States, the top 0.1 percent control 20 percent, and the top 0.01 percent control 10 percent. This is compared to the bottom 80 percent which controls at most…

In 1800, the United States is on the edge of a new era. Newly elected president, Thomas Jefferson steps into office as he introduces the Democratic-Republican Party. The nation remains split after the American Revolution. Born into a family of farmers, I have chosen to belong to the Democratic-Republican Party that fights for the good of all citizens and shifts against Federalism; based on our similarities, my best friend should join me. Thomas Jefferson values farmers and the contribution…

was one of new lands, new wealth, and new ideas. It was a time where growth seemed not only sustainable, but rather necessary and admirable. That being the case, many an author sought to understand this new growth, to make it applicable to the their fellow citizenry, to guide the thoughts of those around them in the way they saw best fit for the benefit of society. Through these various thought experiments, our authors came to manifest seemingly radical notions of wealth and self-governance. Two…

Proulx, B. B. "Drugs, Arms, and Arrowheads: Theft From Archaeological Sites and the Dangers of Fieldwork." Journal of Contemporary Criminal Justice, 2011. In this article, Proulx presents the findings from a recent study of archaeological site looting, which mainly focuses on international selling of obtained artifacts, illegally. The author touches basis with the fact that this is a major problem going on worldwide and countries in the Middle East such as Egypt, Turkey, and Syria have a lot…

In his 1789 letter, Ben Franklin wrote: "In this world nothing can be said to be certain, except death and taxes." Likewise, every year, millions of Americans around the nation dread the 15th of April, which has been traditionally known as Tax Day. Yet, it is indisputable that taxes are a necessity for many basic government functions, such as law enforcement, educational funding, and criminal containment, to operate. While Americans will never escape the burden of tax, altercations to the…