Understanding Societal Wealth and Inequality Thesis Statement on What Can Help Society (Hybrid of Capitalism and Communism)
AYOMIPO MADEIN
A00014571
WRI 102
FINAL PAPER
UNDERSTANDING SOCIETAL WEALTH AND INEQUALITY
THESIS STATEMENT ON WHAT CAN HELP SOCIETY
(HYBRID OF CAPITALISM AND COMMUNISM)
WHAT IS WEALTH
On a general basis, wealth is an accumulation of physical entities which hold great importance to us. These entities are objects such as money, land, jewelries, gold, precious stones and so much more. It is also a means were by people grade themselves or attain superiority over others. Wealth comes with power, prestige, honor, and integrity. Wealth is a very important tool in a society and that is the very means of survival in today’s world. In Charles Darwin’s evolutionary theory, he speaks of “survival of the fittest”. In today’s modern world when fittest is mentioned it actually means wisest, more intelligent or brilliant or clever. Even the strongest in a society cannot attain power without wealth. What an irony but that is the situation of the world and now people are misusing this privilege. The unreasonable use of this opportunity is what is causing inequality in a society.
According to the founder or father of economics, Adam smith, he explains that the wealth of a nation is not based on land or other forms of property but on the labor gotten from the nation. What he tries to explain from this is that the amount of working power in a society gives rise to the power in terms of wealth of the nation. Even if a society has abundance in land, both fertile and unfertile, the society is useless without the working force of the society (Smith).
Every human being in a society is entitled to the wealth provided by the society because when people are created they didn’t place a part of the society to them naturally. The moment people start claiming the wealth of the nation; many people will be left out. This is called private wealth which causes inequality amongst people in a community. Even if private wealth was a good thing, greed which is part of human nature makes it very bad in a
A00014571
WRI 102
FINAL PAPER
UNDERSTANDING SOCIETAL WEALTH AND INEQUALITY
THESIS STATEMENT ON WHAT CAN HELP SOCIETY
(HYBRID OF CAPITALISM AND COMMUNISM)
WHAT IS WEALTH
On a general basis, wealth is an accumulation of physical entities which hold great importance to us. These entities are objects such as money, land, jewelries, gold, precious stones and so much more. It is also a means were by people grade themselves or attain superiority over others. Wealth comes with power, prestige, honor, and integrity. Wealth is a very important tool in a society and that is the very means of survival in today’s world. In Charles Darwin’s evolutionary theory, he speaks of “survival of the fittest”. In today’s modern world when fittest is mentioned it actually means wisest, more intelligent or brilliant or clever. Even the strongest in a society cannot attain power without wealth. What an irony but that is the situation of the world and now people are misusing this privilege. The unreasonable use of this opportunity is what is causing inequality in a society.
According to the founder or father of economics, Adam smith, he explains that the wealth of a nation is not based on land or other forms of property but on the labor gotten from the nation. What he tries to explain from this is that the amount of working power in a society gives rise to the power in terms of wealth of the nation. Even if a society has abundance in land, both fertile and unfertile, the society is useless without the working force of the society (Smith).
Every human being in a society is entitled to the wealth provided by the society because when people are created they didn’t place a part of the society to them naturally. The moment people start claiming the wealth of the nation; many people will be left out. This is called private wealth which causes inequality amongst people in a community. Even if private wealth was a good thing, greed which is part of human nature makes it very bad in a
Cited: karl Marx, Frederick Engels. The Communist Manifesto, in The Two Narratives of Political Economy. Hoboken, NJ, USA: John Wiley & Sons Inc., 2010. Kumar, Satish. Critique of Capitalism. November/December 2005. <http://www.resurgence.org>. Oracle Education Foundation. "Oracle Think Quest." 2008. Communism- The Failure of an Utopian System. <http://thinkquest.org>. Prybyla, Jan S. "Economic Problems of Communism: A Case Study of China." Asian Survey, Vol. 22, No. 12 (1982, Dec): 1206-1237. Rizzi, Warren. China 's Economy Dances Between Communism and Capitalism. 23 April 2012. 28 April 2012 <http://www.policymic.com/articles/7356/china-s-economy-dances-between-communism-and-capitalism/headline_story>. Rousseau, Jean Jacque. Discourse on the originn of inequality . Holland: Marc Michael REy, 1755. Rowell, Katherine R. Essentials of Sociology, A Down-to-Earth Approach. Boston: Pearson Education Inc., 2006. Smith, Adam. An inquiry into the nature and causes of the wealth of a nations. Pennsylvania: Penn State Electronic Classic Series Publication, 1776.