English Assignment essay pdf

Name
Professor
Course
Date
English Assignment essay
Introduction
In the ‘On the natural progress of opulence’ Adam smith strongly suggests that in
accordance with the natural course of things, it is very clear that the greater part of capital of
almost all growing societies is first directed to agriculture then manufactures and lastly to foreign
commerce. From this famous book that he wrote, Adam smith focuses on how nations
accumulate their wealth solely through agriculture. It is important to note that Adam smith was a
capitalist (Cheshire, Paul, Hay, 2017).
Robert Reich is a political commentator an author and an iconic person who served as the trade
secretary between 1993-1997 in the United States. In his analysis of the various segments of the
economy in ‘Why the rich are getting richer and the poor, poorer’ Robert sheds some light in
some of the reasons behind that.
Well, this write up aims at explaining exactly how the analysis made by Robert Reid on the
various segments of the economy complicated with Adam Smith’s argument about the natural
progress of opulence. Moreover there would be a detailed explanation on exactly how Adam

Smith’s argument about the natural progress of opulence helps in the understanding of the
current and new model of economic progress in the United States (Einav, & Jonathan, 57).
How Robert Reich analysis of various segments of the economy in why the rich become
richer and the poor, poorer complicate with Smith’s arguments about the natural progress
of opulence
Robert Reich used a metaphor to compare the gap that exists between the poor and the
rich; he symbolically used this metaphor to describe some very significant differences that exists
between the poor and the rich. He stated that social classes were categorically divided into boats
where one boat was sinking at a very high rate another one slowly and another one was not
sinking but it was rising.
Basically, what Robert Reich meant was that the people in the lower class kept on getting poorer.
This was pegged as to job loss as a result of automation also labor competition, this was the boat
that was sinking at a very high rate. The middle class represented the boat that was sinking but at
a very slow rate. They were as if they were in the same position but in real situation they were
going down economically at a very slow rate. This was pegged to low salaries as a direct result
of increased social security among other reasons. The upper class on the other hand was the boat
that was rising. This was as a direct consequence of the fact that these people sold their ideas to
foreign countries.
Roberts Reich analysis on why the various segments of the economy complicate Adam Smith’s
arguments about the natural progress of opulence. This is so because here we see that Adam
Smith was a capitalist and this can be redirected to him continuously spreading the gospel of
capitalism with a process that he believed could be used to develop wealth among various

nations (Thomas, Henk, Logan, 2017) From his arguments and how he articulated some issues it
can be concluded that he seemed to practically provide a reflection on how the economy should
be in his own perception, this can attributed to the fact that he sensitized on agriculture as the
first place where capital should be taken, the manufacturing and the rest follows.
From what Adam Smith argued and believed in we see that it completely contradicts with what
Robert Reid has to say regarding the same matter. As a matter of fact, these two great Americans
try to explain the matters of concern in the economy in a very different way. Their thoughts and
point of views are totally different although they can be correlated to some extent.
How Adam Smith’s argument about the natural progress of opulence helps in the
understanding of the current and new model of economic progress in the United States.
From my own perspective I can say that the Adam’s Smith economic analysis has
become obsolete and looking at the current situation in America is terms of the economic
growth, technology, cultural integration among others then I have confidence that his economic
analysis cannot be used to bring any results whatsoever (England, 65).
Adam Smith’s arguments are still in regard to the natural progress of opulence are not being used
because it has become irrelevant in relation to the current economic growth and progress of the
United States. There are certain variables that Adam Smith did not consider one of which was
time. Time is a variable that cannot be fixed once it is lost. Here Smith forgot to factor in the
issues of changes in technology as time was passing by.
In America for instance, his arguments can be used in understanding the current and modern
model of economic development and progress in various ways.