Economics Questions

Re: How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

Phaedros — Sun, 03 Apr 2011 05:48:09 GMT

Exactly. Of course, there are probably some kids in need, but that statistic, "in danger of being hungry", is esentially meaningless.

Re: How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

Neodoxy — Sun, 03 Apr 2011 04:49:15 GMT

While they're making their way to the vending machine....

Re: How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

Phaedros — Sun, 03 Apr 2011 02:10:27 GMT

Hey, thousands or tens of thousands of kids in minnesota are at risk of maybe going hungry once a year.

Re: How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

Neodoxy — Sun, 03 Apr 2011 01:52:41 GMT

Smith didn't consider much about the sociological parts of capitalism. He of course supported a progressive tax which would have helped to even things out. So I don't think anyone could really say what Smith had said unless they were thoroughly familiar with his writings, although I'd take a stab at saying that Adam Smith would have said that a rising standard of living would have helped everyone, and in his time people were fighting from a standpoint of absolute destitution whenever they revolted, it may have been beyond the imagination of Smith that people would be in uproar over the "poverty" in the U.S today.

Re: How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

Phaedros — Sun, 03 Apr 2011 01:38:11 GMT

Who's to appoint those that will engineer society so that there will be no rest? Who has the authority, legitimate authority, to impose their will on society or groups of people because their view of societal stability is not fulfilled?

Re: How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

z1235 — Sun, 03 Apr 2011 01:22:26 GMT

Can't speak for Adam Smith, but I would respond with: Equal wealth distribution is an oxymoron, as any scheme purporting to distribute wealth equally inevitably destroys the wealth available for such distribution. Forget unrest -- both theoretically and empirically, equal wealth distribution leads to societal collapse.

How would Adam Smith Respond to the Claim that Unequal Wealth Distribution leads to Societal Unrest

andy11 — Sun, 03 Apr 2011 01:09:11 GMT

Hey guys,

I've been asked the question, 'How would Adam Smith respond to the claim that unequal wealth distribution leads to societal unrest?" I would appreciate any insight you may have. I'm reading Wealth of Nations, but have not perceived him addressing this issue. Thanks

Andy