In the article Adam Smith and Human Flourishing on AEI, it first breaks down on what happens when two people try to work for their own benefit when both of them can work for each other. Let's say America wanted to grow bamboo(just for demonstration), bananas, and oranges. And then China wants to grow the same thing, as well as Brazil. But America grows oranges faster then Brazil and China combined. China grows bamboo faster then America and Brazil combined. And finally, Brazil grows bananas faster then China and America. But America wants bamboo and bananas, but for every banana and bamboo they grow they lose about five oranges. But no one wants to trade because they fear that someone might give a low price. This is where our story begins.
Adam Smith, Economist. And a good one at that. He decided that America's economy needed a boost. So he decided that we should trade, and raise work force. By having one man do all the work in a factory, makes it go nowhere. Whereas multiple men working in a factory, makes it move. Because each man has a different job, rather then that one man with all the jobs.
The writer of this article, Ryan Patrick Hanley argues that Smith's ways of making economics better isn't quite right. He is correct because Smith wasn't a man who had knowledge of economics, but the philosophical point of view. He didn't even want to be known as a economic person! However, as Hanley continues, I see why we believe he was the creator of economics. Because the people of that time loved how he used his philosophical views and put it into an economic view. Especially when he loves to see things flourish. Economic, political, and moral flourishing are the three things that Hanley focuses on when trying to understand Smith. An economic flourish is good, for those who put money into those flourishing products. And the government can benefit from this as well, especially when they are the ones who put their money into a flourishing product. If you want to invest your money into a growing product, you might want to invest in something you know. Because then you know how it's doing, and when and how it will improve. But if you invest in something out of the country, and never heard of it, then you might not be getting much money back. Political flourishing is also good for the government, because... politics. But can the average citizen benefit from this? Both yes, and no. Because if those politicians are smart individuals, then they will be helpful to the citizen. But if they are an unwise, all about themselves fool, then the citizen will not be benefiting from them. A government with flourishing politicians must be flourishing with smart ones. And finally, moral flourishing. This flourishing is a bit on the, "Every man for himself" type deal. Because moral(or human) flourishing is when a man or woman who wants to pursue their dream, pursues it without anyone saying otherwise. But how do all of these play out in the world of Economics? Simple. Let's say a Moral man want's to become a politic, and another Moral man want's to become an owner of a company. The Moral Man, went to the Politic side, helped out the other Moral Man have laws stating that he could have his company, made lots of money for an Economic Flourish, paid some to the government, and the Political Man made some money for allowing those laws to be in affect.
With all these flourishes, the world can become a better place. But those countries that prevent man choosing what to do, aren't going to flourish so quickly. But those that do let man choose their dreams, will flourish real quick. You don't need to know about economics in order to live it, because all economics really is choices. Everybody makes choices everyday. Will you give time for this one thing, or will you not. That is basic economics. If you want to be like Adam Smith, then do it. Because it is your choice, and someone else will benefit from it without doing anything.
No comments:
Post a Comment