Wealth Vs Wealth Essay
analytical Essay
1230 words
Zoe Jones
English 2
J. Craig
April 29, 2014
Wealth and Poverty
In today’s society, everyone seems to be putting their minds towards achieving wealth, but yet are But what is poverty? And what is wealth for that matter? Adam Smith and Robert B. Reich are both men who have written about wealth and poverty, and what is affecting the growth of them. Both men have some similar views as well as distinctly different views on what wealth is and how to gain wealth while avoiding poverty, not only as one entity, but as a community. Both men have ideas on how our economic systems work and what parts are doing us good, as well as those that are misleading us into a growing community of poverty. Through much research, and debate with my roommates and friends, on this subject I can say that I agree that having a community that thrives off of its own efforts and means of survival is a better society in all circumspect. Having to depend on other countries for food, clothing, fuels, and other perishable items is not the way this country should be run, but instead by our own means of what we can provide, to our people, from the land we live on.
Adam Smith was a moral philosopher in economics and a writer during the eighteenth century as well as many other things such as being a professor who taught moral psychology. He had some views that can reflect greatly on our modern day economy. Smith saw wealth as it related to country and town. In Smiths excerpt “Of the Natural Progress of Opulence” from his book The Wealth of Nations, he states; “the country supplies the town with the means of subsistence, and the materials to manufacture. The town repays this supply by sending back a part of the manufactured produce to the inhabitants of the c...
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...e are fighting for jobs headlong, but back in the eighteenth century, people weren’t as worried.
The meaning of wealth and poverty is different to everyone, but most everyone wants to dive towards wealth and to stray from poverty. Both Reich and Smith, two philosophers from greatly different times, can both differentiate and agree upon some of the reasons why wealth was so evenly spread during Smiths time and is very much one sided today. These brilliant men write almost as they are having a conversation, and they unfold the truth of why our society today is falling apart. They use many points about why our system is failing along with what is going to happen in the future if we keep following the path we are on, and how we could potentially fix it. But the main question is: Are we going to fix it? And sadly the answer seems to slowly be lingering towards a: No.
In this essay, the author
- Explains that adam smith and robert b. reich have written about wealth and poverty, and what is affecting their growth.
- Explains that adam smith was a moral philosopher in economics and professor of moral psychology during the eighteenth century. he saw wealth as it related to country and town.
- Compares robert b. reich to bill clinton, who was a professor, but he taught public policy. in reich's book, why the rich are getting richer and the poor, poorer, the economy was in three boats.
- Analyzes how reich sees that americans rely heavily on materials and employees from other countries to do the work they do here, but for half the price.
- Explains that smith believed that things worked pretty well in his time, because everything was give and take.
- Compares adam smith and robert b. reich's attitudes toward their economic systems. smith has faith in the economy of his people, and believes in it being fair, whereas reich believes that today’s economy is slowly becoming less and less like that of smiths time.
- Analyzes how smith and reich make opposing points about their economies in a very similar way. in the eighteenth century it would have been more beneficial to buy produce from nearby.
- Explains that in smiths time, there weren't movie stars that made more money than medical facility workers did. every famous person we ogle over is getting paid for their engaging admiration of them.
- Explains why there is so much poverty today, fighting against the tides of wealth. they explain how wealth is more difficult to achieve for those who don't have years of school or experience under their belt.
- Analyzes how reich and smith, two philosophers from greatly different times, can both differentiate and agree upon some of the reasons why wealth was evenly spread during smiths time and is very much one sided today.
Related
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- Wealth Inequality Essayexplanatory essayWealth inequality is the gap that exists between rich people and poor people because the inequality of assets that people own in America. Wealth inequality will always exist in the society. Wealth means what a person owns like land, properties, and money without considering the debts. Some societies have a bigger gap of wealth than others. Maybe sometime in the paleolithic era there was not wealth inequality, because they had a nomad style of live and they only hunted and recollected their food. In this period of time, the concept of private property did not exist and everybody share the goods. Since the beginning of human civilization wealth inequality exist; kings were the owners of everything while the slaves did not own anything. With the past of the years the gap between the wealthy people and the poor people suffered changes like the great depression of 1930 and the last recession of 2007. The wealthy gap will always exist; however, the ideal gap must be as fair as possible.
In this essay, the author
- Explains that wealth inequality is the gap between rich people and poor people because the inequality of assets that people own in america.
- Explains that there is a misconception about the term of income and wealth. the lack of financial education contributes to the increase of the gap.
- Explains that wealth inequality exists because of inherited wealth. wealthy people taught their children the proper management of money, passed their heritage to relatives or made donations to social organizations.
- Explains that america is a consumerism country where spend is more important than save money. financial education is the key to decrease the size of the wealthy inequality gap.
- Explains that wealth implies a more permanent notion of security and an ability to secure advantages in both the short and long terms.
- Explains that wealth inequality is a complex society problem that has different factors that affect the size of the gap.
1024 wordsRead More - NAFTA and the Labor Debateopinion essaySmith, Adam. 1976. An Inquiery into the Nature and Causes of the Wealth of Nations.
In this essay, the author
- Explains that the north american free trade agreement (nafta) is a regional trade agreement between mexico, the united states, and canada.
- Opines that trade agreements like nafta, where manufacturing jobs are shifted from the developed world to the developing world, are necessary.
- Explains that mexico is becoming industrialized while the united states is entering a new era where the service business dominates. trade agreements like the north american free trade agreement facilitate this transition in economies.
- Analyzes how adam smith's view on division of labor is proving itself with the north american free trade agreement. the united states and mexico are engaged in the type of industry that best suits each country.
- Explains that the north american free trade agreement was designed to eliminate all trade barriers between the three countries and promote conditions of fair competition and increase investment opportunities.
- Explains that the nafta was mostly designed to take advantage of mexico's maquiladora program. they explain that they can bring as many foreign workers as they want but hourly wage earners have to be mexican.
- Explains that the north american free trade agreement was a highly controversial issue in all three countries before it came into effect.
- Explains that there are many sides to the labor dispute that erupted because of nafta. canada and the united states are developed both industrially and technologically, while mexico is still considered a developing country.
- Explains the impact of nafta on mexico and the united states. the u.s. government reports that 18 million jobs were created and 7 million lost in the us.
- Explains that mexico's increase in employment is more linked to nafta than in the united states. rates have also risen dramatically since the north american free trade agreement went into effect.
- Analyzes how adam smith tells us that the workmen want to get as much money as they can, while the masters seek to give as little money.
- Opines that the trade agreement was beneficial to both countries, but several sectors of the economies of each nation benefited more than others.
- Analyzes how the manufacturing sector has grown in mexico. it is mexico's largest economic activity second only to the commerce.
- Explains that manufacturing in the united states has remained stagnant throughout much of this decade and a greater part of the 1980’s. the highest number of workers this year is the month of october with 18,202,000 workers.
- Explains that the service occupation industry has seen a steady rise in employment over the past two decades. the service industry employment number now stands at its highest point in 1999.
- Opines that trade agreements like the one that the united states has with mexico will be the norm in the coming decades.
- Explains that mexican companies that export more than 80 percent of their production, pay 40 percent more. mexico is gaining not only with more jobs but higher paying jobs.
- Opines that the north american free trade agreement was a movement for growth instead of restraining the inevitable development of these countries.
- Cites globerman, steven, and alan rugman. foreign investment in nafta.
- Explains smith's inquiry into the nature and causes of the wealth of nations.
- Explains the secretaria de trabajo y prevision social. estadisticas laborales.
- Explains the north american free trade agreement at five years: what it means for the u.s. and mexico.
- Explains the north american free trade agreement: five years linking u.s. and mexican markets.
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In this essay, the author
- Analyzes how capitalism is an individualist approach towards an "un-ideal" economic system, which creates conflict and competition. liberalism expresses the principle of liberal tradition.
- Analyzes the implication of putting liberalism in place in a capitalist society, as we tend to interpret the ideology as neoliberalism, which suggests that the rich grows richer and the poor grows poorer.
- Analyzes how capitalism dominated the 2008-2009 financial crisis, which affected millions of americans.
- Analyzes how the laissez-faire capitalistic notion exposed negative impacts that affected the state and its nation during the great depression of the 1930s.
- Analyzes the negative effects of laissez-faire capitalism in the 1870s and the industrial revolution.
- Analyzes how the industrial capitalists, the middle class, and adam smith's "invisible hand" helped create an image of a hierarchy. individualism and classical liberalism brought many negative impacts in the society.
1547 wordsRead More - Knowing the way in which the wage-earning gap affects people is critical to understanding the necessity for the need of change. As the rich grows richer, the poor become poorer in contrast. The “Founding Fathers” of the United States agreed that the socioeconomic inequality threatens the effectiveness of any democracy. Ben Franklin said, "No man ought to own more property than needed for his livelihood." James Madison noted "the unequal and various distribution of property" to be the chief cause of social disorder. ...
In this essay, the author
- Argues that the united states must enforce a maximum wage ratio, with the greatest earnings in the company being multiple of the lowest earnings.
- Argues that knowing how the wage-earning gap affects people is critical to understanding the need for change. the "founding fathers" agreed that socioeconomic inequality threatens the effectiveness of any democracy.
- Analyzes how pizzigati advises a ten times rule for every income-earner, which would achieve "true tax simplification" while granting tax reductions for everyone below the maximum wage limits.
- Explains that taxing superfluous wealth in accordance with pizzigati's "ten-times rule" would have collected $463 billion, almost identical to the $467 billion gathered from all taxpayers in 1990.
- Explains that the income gap is at a grossly large number, but those within it are blind, in denial that there is anything wrong with the excessive wealth that they possess.
- Argues that wealth addicts are responsible for the widening rift that is tearing apart our once great country.
- Describes the bureau of labor statistics' cpi inflation calculator.
- Analyzes how ceos earn 331 times as much as average workers and 774 times more than minimum wage earners.
- Opines that polk, sam, "for the love of money," the new york times sunday review, 19 january 2014.
1179 wordsRead More - Wealth Vs Wealthexplanatory essayWho does not wish to be rich? The first thing that might come to mind when thinking about having a lot of money is owning luxurious cars, living in a prodigious residency, having expensive items to wear, or anything of that nature. A rich person has the ability to buy anything to please his or her desires, and he or she can visit any place at any time without having to think about it twice. Many people perceive that happiness comes within how much money they have. People confuse being wealthy with being happy. Wealth does not necessarily bring happiness; however, it is obvious that it can help to bring happiness for some and sorrow for others.
In this essay, the author
- Explains that a rich person has the ability to buy anything to please his or her desires, and visit any place at any time without having to think about it twice.
- Explains that the word "wealth" derives from the old english words weal defined as "well-being" and th meaning "condition of". money can buy almost anything, but it cannot buy happiness.
- Explains that when people believe that happiness comes within wealth, they tend to focus on obtaining wealth rapidly. kidnapping is one of the most common acts by criminals to obtain money.
- Narrates how their cousin alfredo, who owned a construction company, was surrounded by different people every time they saw him.
- Narrates how their father knew that his wealth could not replace his family, which was a big factor of his happiness. he was devastated because everyone around him was only with him to spend his money or ride on his luxurious cars.
- Explains that a person's perception about money and happiness changed. they realized that too much money can lead to pretended friendships and relationships.
- Explains that although wealth can have its downsides, it can also help people with happiness. having a minimum amount of money is necessary to be happy.
1512 wordsRead More - Adam Smith Essayanalytical essay“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.” This is a quote from the book Wealth of Nations, which Adam Smith wrote, addresses well about why and what reason people work for. The butcher, the brewer, or the baker does not cut, stir, or bake because they want to please the customer or to feed the poor, but to earn money and for their own happiness. Adam Smith, who fully understood the concepts of capitalism and free market system, became one of the most well respected economists throughout the world. Smith became famous because of his philosophy of economics. Because of his thoughts on economics, today he is well known as the “father of economics.”
In this essay, the author
- Quotes adam smith's book wealth of nations, which addresses why and what reason people work for. the butcher, the brewer, or the baker does not cut, stir or bake because they want to please the customer or feed the poor.
- Narrates how adam smith was born in kirkcaldy, scotland. his father was a lawyer who married margaret douglas in 1720 and died two months after his birth.
- Analyzes how the book, wealth of nations, plays a major role in studying smith's idea on economics. the book defends the free market policies.
- Explains that the wealth of nations consists of two volumes divided into five books. the first book covers the causes of improvement in the productive powers of labour and the order according to which its produce is naturally distributed among the different ranks of the people
- Explains that smith's book, "of the causes of improvement," talks about the division of labor and the wage of labours.
- Explains smith's explanation of the differences in the wages of individual professions in wealth of nations. the agreeableness of employments, cheapness, constancy, inconstancy, trust, and probability of success make up for small pecuniary gain.
- Argues that the wage differs in profession because of five reasons: ease or hardship, cleanliness or dirtiness, honourableness or dishonour
- Explains that smith's book, "of the nature, accumulation, and employment of stock," addresses the accumulation of capital.
- Analyzes adam's concept of the invisible hand, which guides free markets and capitalism through competition for scarce resources, and laissez-faire which states government should intervene as little as possible in economic affairs.
- Explains that adam smith strongly denied the idea of mercantilism in his fourth book, of systems of political economy. free market opens up new markets for more profits and lowers the cost of goods if they are imported.
- Explains that smith's fifth book, of the revenue of the sovereign or commonwealth, addresses about his thoughts on sovereigns.
- Explains that adam smith fully understood how wealth can be accumulated. his concepts of capitalism and free market are still the root of many nations and bring wealth to these nations.
1020 wordsRead More - Adam Smith's Political Philosophiesexplanatory essayAdam Smith was a philosopher whose political philosophies was based off of economics. He believed to some extent that there should be a redistribution of wealth, but at the same time there should be a limit to government interference in economy. He wanted the state to end politics that favor industry over agriculture or vice versa, and that business should be left to the business people. He also believed that the government cannot make people virtuous with laws, and that the state should not promote religion or
In this essay, the author
- Explains that adam smith was a philosopher whose political philosophies were based off of economics. he wanted the state to end politics that favor industry over agriculture, and that business should be left to the business people.
88 wordsRead More - Adam Smith Essayanalytical essayAdam Smith was a man of many achievements. As a Scottish philosopher and political economist he became famous by his classical and influential books. In 1759 he wrote a book called “The Theory of Mortal Sentiments”and in 1775 he wrote another called “An Inquiry to the Nature and Causes of the Wealth of Nations”. Known as the “father of modern economics” Adam Smith has greatly influenced society. Adam Smith’s history impacted the way that our society is today. Adam’s childhood, environment, education and events throughout his life contributed to the way that we view society. With Adam’s theories and great works he molded a pathway to different stand points on the public and its society. Among his great works are the wealth of nations and inquiry to the nature and causes of the wealth of nations alongside the theory Adam named the invisible hand. Adam also thought about the public from an economic and political stand point. Due to factors that influenced Adam’s early life, he was able to learn from those before him to become the great economist, politician, and philosopher that he was. This way, even though Adam Smith lived during the time of the scientific revolution his words of wisdom in politics and the economy are still used today in the public.
In this essay, the author
- Explains that adam smith, a scottish philosopher and political economist, became famous by his influential books, including the theory of mortal sentiments and an inquiry to the nature and causes of the wealth of nations
- Explains that adam smith was born on june 5th, 1723 in kirkcaldy, scotland. he was raised by a widowed mother, who gave him an education to support his mother and himself.
- Describes adam smith's "invisible hand theory" in his book, wealth of nations.
- Explains that every individual labors to render the annual revenue of the society as great as he can. he is led by an invisible hand to promote an end which was no part of his intention.
- Explains that the invisible hand guides markets and capitalism through competition for rare resources and is the natural way of the economy.
- Explains that adam smith's wealth of nations and the theory of mortal sentiments were two of adams' greatest works that impacted society.
- Analyzes how adam smith's theories changed the course of wealth, trade, and labor. his views were political and economic, thus helping the public economy and politics develop during the life and after the death.
847 wordsRead More - The Humanistic Tradition By Gloria Fiero's Chapter Summaryanalytical essayIn the Humanistic Tradition the author, Gloria Fiero introduces Adam smith as a Scottish moral philosopher, pioneer of political economy, and a key figure in the Scottish Enlightenment. Smith also known as the Father of Political economy, is best known for one of his two classic works An Inquiry into the nature and causes of the Wealth of Nations. Fiero looks at Smith’s work because the division of labor is important. One thing Smith thinks is even more important for creating a wealthy nation, is to interact and have open trade with different countries. Fiero states,“It is necessary, though very slow and gradual, consequence of a certain propensity in human nature which has in view no such extensive utility; the propensity to truck, barter,
In this essay, the author
- Analyzes how gloria fiero introduces adam smith as a scottish moral philosopher, pioneer of political economy, and key figure in the scottish enlightenment.
- Opines that trading is the key to modern wealth. to create a wealthy nation people must have open trade with other countries.
- Explains that capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
- Analyzes how adam smith's wealth of nation review, written by donald white, focuses on labor and trade.
- Explains that smith doesn't think that free trade is a problem, stating that countries can trade with each other when they do not have the resources or capacity to satisfy their own needs and wants.
- Explains how smith makes it ideal for countries to interact and trade. trade means you get more direct workers into jobs in which they have a comparative advantage.
727 wordsRead More - Wealth Inequality Essayanalytical essayManagerial Economist awareness of consequences of Wealth Inequality across different states in U.S., across Canada, and across World
In this essay, the author
- Analyzes the effects of wealth inequality across different states in the united states, canada, and the world. wilkinson states that trust and mental illness remain common in unequal societies.
- Opines that business incubators provide opportunities to integrate education and training with a focus on entrepreneurship, business, management, and new competencies demanded in the workplace.
473 wordsRead More