Adam Smith in the Modern World

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Recommended: An analysis of adam smith's the wealth of nations

The question was “How would Adam Smith respond to modern day claims that unequal distribution of wealth leads to social unrest?” After researching multiple different sites and reading the book I came to my answer. “No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable (Smith).” Adam Smith’s thoughts on unequal distribution completely computes with what these words are trying to say. This an extremely important statement made by Adam smith because it really equates to society today and I think that he would still agree with this statement today. I would think that Adam Smith would be very excited knowing that his thoughts and statements still equate today and know that people still study his teachings today and will do everything they can to further understand his statements and continue his teachings. No matter what he would always be able to figure out that there is an unequal distribution of wealth. I think this is even more true today because there are more millionaires and billionaires today then there were even just thousandaires back then. Life is all about growth and what we can do to make it better and what Adam Smith was teaching will help better understand the economics thinking. The world must function even with people being on different levels. Adam Smith would talk about how wealth was not distributed fairly and that people needed to understand that it needed to be dispersed properly in order for everything to be fair.

“Today Smith’s reputation rests on his explanation of how rational self-interest in a free- market economy leads to economic well-being. It may surprise those who would discount Smith as an advocate of ruthless individualism that hi...

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...ould run from but embrace.

Adam Smith helped shaped how the world is today. He helped form many different theories in order to help us understand how and why people think certain ways and helped us understand how to think as well. He helped to publish The Wealth of Nations and understood that people have the self interest in mind and that no matter what year you live in, people will worry about themselves and put their own self interest ahead of the rest of people. As i have stated in this paper Adam Smith has been a founding father of economists. He has taught us so much and really makes us understand exactly how countries become poorer and what we can do to help benefit ourselves.

References:

http://www.econlib.org/library/Enc/bios/Smith.html

http://www.countercurrents.org/avery310314.htm

http://www.economist.com/blogs/freeexchange/2013/11/economic-history

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