blog 8

 1. How would you defend Smith’s views as expressed in this essay? In what sense is he right in establishing the “natural progress of opulence” as you observe it yourself? He describes the world as he knows it in his own time and then imagines how it might have become that way. How well does he satisfy your curiosity about the way in which nations grow rich?

Adam Smith's views were expressed in many different ways. He expressed them with modernity and continued to inform people of their understanding of current economic trends. He established the “natural progress of opulence” by establishing the steps by which a nation capitalizes on their wealth and becomes wealthy. He agreed with natural developments and that they take their own time. I agree with how he words his rhetoric and how he is interested in how everything takes its own course. 

2. Smith places a great deal of faith in the value of land for maintaining wealth. Since most people today, including wealthy people, do not necessarily see their wealth in terms of land, what in our time might substitute for land? What would a wealthy person interpret as a secure or conservative capital investment?

In today's day in age a wealthy person most likely would not see their wealth through land but they might see it in other objects such as their large houses, cars, not necessary items such as an old game set or traveling might show their wealth. Many teens today show their wealth from their parents too. Someone who is wealthy might have a lot of yard space with a pool or basketball court, or a guest house/ gym area. 

3. Argue in favor of or in opposition to Smith’s statement in paragraph 8: “According to the natural course of things, therefore, the greater part of the capital of every growing society is, first, directed to agriculture, afterwards to manufacturers, and last of all to foreign commerce.” Because in the early 2000s the United States is in the midst of a “new economy,” this statement will need to be examined closely and augmented. How would you continue the “evolution” that Smith observed?

I believe that agriculture should come first. I have always supported the idea that the agriculture industry is the backbone of our country. However, because the number of farmers has declined, Smith's idea that "agriculture is first'' no longer exists. In today's world, manufacturers are everywhere. You can either get local food from your local farms at the farmers market, or you can choose to get processed foods that lack nutrition. Foreign countries also have many businesses in our country to such as Toyota which is a Japanese automobile manufacturer.

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