Blog 9 - Smith

Adam Smith

1.) Smith wrote his book in order to say that to fix the wealth of a country you have to start with the country.  Products are made from the supplies in the country so in order to make more products the country needs more supplies.  Smith was also right that wealth comes from the country not the town so in order to make the individual more wealthy, the country has to be wealthier.  Smith does a good job to satisfy my curiosity of how a nation becomes wealthier and he explains it is a good way.

2.) In today's society, we do not see our wealth in the terms of land. We see wealth based on how big your house is, how nice your car is, the brand of clothes you wear, and the investments you have.  The wealthy find a secure capital investments in the things they invest in because that is what will make them more wealthy and rich people like to make themselves richer.

3.) In some ways Smith was right.  We do have a huge dependence on farming in order to grow things and feed the country.  The cities do depend on the country for products and the country depends on the cities for supplies.  However, in today's world the U.S. depends on manufacturing just as much.  Manufacturing supplies a lot for the country and contributes to a lot of the money for the country.  In turn we rely on foreign trade to supply fuel for the country.  While we do rely on farming, we also need manufacturing and foreign trade in order to run the country to the best it can be.