100%(5)5 out of 5 people found this document helpful
This preview shows page 4 - 6 out of 6 pages.
In conclusion, I believe that Adam Smith would respond favorably to the modern-day claims that unequal distribution of wealth leads to social unrest. His many theories, such as limited government control, an establishment of a free market, support of international trading, and his strong advocacy of charity and human rights all give strong support and evidence that Adam Smith would agree with unequal distribution of wealth as being detrimental to a nation’s
HOW WOULD ADAM SMITH RESPOND?5society. His main concern as a classical economist was the equality, as well as a good standard ofliving, for all individuals.
HOW WOULD ADAM SMITH RESPOND?6ReferencesHerzog, L. (2014). Adam Smith on Markets and Justice. Philosophy Compass, 9(12), 864-875. Retrieved from RASMUSSEN, D. C. (2016). Adam smith on what is wrong with economic inequality.The American Political Science Review, 110(2), 342-352. Retrieved from Schumacher, R. (2015). Adam Smith's 'Two Distinct Benefits' from Trade: The Dead End of 'Vent-for-Surplus' Interpretations. History Of Political Economy, 47(4), 577-603. Retrieved from ?url=?direct=true&db=eoh&AN=1552811&site=ehost-live&scope=siteSmith, A., & Recktenwald, H. C. (1986). The theory of moral sentiments. Düsseldorf u.a.: Verl. Wirtschaft u. Finanzen.Smith, A., Cannan, E., & Stigler, G. J. (2012). An inquiry into the nature and causes of the wealth of nations: two volumes in one. Chicago: University of Chicago Press.Sowell, T. (2007). On classical economics.New Haven, CT: Yale University Press.