Everyone has a worldview and basic beliefs, whether it relates to the Holy Bible or secular world. It is a matter of wisdom and common sense which differs from exceptional talent or intelligence (Wolters, pp. 4-10). In relation to one's beliefs, the Holy Bible says; For what man knows the things of a man except the spirit of man which is in him? Even so no one knows the things of God except the Spirit of God. Now we have received, not the spirit of the world, but the Spirit who is from God, that we might know the things that have been freely given to us by God. These things we also speak, not in words which man's wisdom teaches but which the Holy Spirit teaches, comparing spiritual things with spiritual (1 Corinthians 2: 11-13, NKJV).
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Adam Smith publication of Wealth of Nations publication tells the concept of economic growth and growth rooted in a division of labor. Productive labor leads to the creation of tangible objects and creates a surplus to be reinvested into production Dhamee, 1996).
No, there is no scarcity in God's economy because of His love. Since God turned water into wine, we should believe He can do anything. Jesus healed, taught, preached His word, and gave His life that we might have life in abundance. When we see ourselves in relation to Him, we are renewing our minds and the enjoyment of His understanding of economy, where there is no lack. God's grace is sufficient to provide, and guide us is a step toward the renewal of thinking about economic scarcity. I will instruct you and teach you in the way you should go; I will guide you with My eye (Psalm 32:8, NKJV). Grace to you and peace from God the Father and our Lord Jesus Christ, who gave Himself for our sins, that He might deliver us from this present evil age, according to the will of our God and Father, to whom be glory forever and ever. Amen (Galatians 1: 3-5,
Wealth is driven by commerce. Wealth in any form is the root of all needed things in the sense that currency is the simplification of ones own definition of wealth by being the common denominator that translates through the world. Translating wealth is most commonly left to the rich and philosophically inclined such as Adam Smith, Andrew Carnegie, and Andrew K. Gailbraith. Adam Smiths realism rhetoric stood that in order for a prosperous town to exist there first had to be an equally if not better country-side because Adam Smith believed that wealth was a measure of how much land one had and how much of it could be cultivated for the use of planting crops and manufacturing raw goods and how close it was to any town.
In the second and third chapters in Basso’s book, Wisdom Sits In Places: Landscape and Language Among the Western Apache, he discusses and explores the fundamental Western Apache tradition of place-names and story telling. He focuses primarily on storytelling in the second chapter and place-names in the third. Basso tells of his experience working with Nick Thompson, an informer of Apache culture and friend of Basso for more than 25 years Thompson informs Basso that learning the place-name of the area is an extremely important first step in learning about Apache culture. As Basso really identifies in his third chapter, place-names are extremely important in Western Apache storytelling. Western Apache storytelling can be divided into four narrative categories: myth, historical tale, saga, and gossip.
Education is the true form of wealth and the ultimate solution. He believed in Christ’s sprit of helping our fellowmen for their progress in their lives. He believed that it’s a duty of wealthy men to set an example to distribute wealth in a good use. According to him, charity should be use in places that would bring great results and solved community
During His time, both classes never assorted together, and it was common for the rich not to help the poor. Kraybill aims to help the readers to see Jesus’ teachings from a different view. Kraybill believes
Before Adam Smith’s push for this, it was common for governments to make most the decisions about what to trade and how much everything was. He wrote The Wealth of Nations to help this cause change. He also wrote that if individuals pursue their own self-interest, they would help the society (Doc C). Individual freedom is the key to a better economy as well.
While influenced by others the human race is individually minded, and has been able to obtain much knowledge at a substantial rate because of enlightenment. Throughout history man was able to shape the face of the earth by controlling others, but until the age of enlightenment man was not fully aware of the accomplishments he could achieve. In this period the ideals of society having a voice, changed history through bringing light to the genius and talent of not one but the vast majority of the world. To challenge one’s self-worth enlightenment must be achieved through leaving a cowardly stage to become mature. Presently, the enlightenment ideals have given many people around the globe a chance at a free life through natural rights and tolerance,
William T Cavanaugh (2008), wrote Being Consumed: Economics and Christian Desire which is a philosophical book, which focus on four (4) economic life matters that addresses the consumer culture within society. These four economic life matters are free market, consumerism, globalization and economic scarcity. In order for this topic to be discussed on a theological point of view, the author draws the reader’s attention to human life, the ends of life in God. The key question in every process is whether or not the transaction contributes to the flourishing of each person involved. In order to address these questions the author points to concrete examples of alternative economic practices in which Christians participate-: business, co-operatives, credit union, practices of consumption which marks the vision for Christian economic life.
The most surprising world view I discovered in the book, The Transforming Vision, by Walsh and Middleton was the ability for a follower of Christ to be open-minded toward other cultures that are different in their beliefs, practices, and values. The reading has taught me not to be so one-sided on issues, but to listen to others who have a different perspective than I do. We all come from different backgrounds and not everyone shares the same values. The book gives examples of how each culture practices their traditions and customs. For example, the Japanese value the trait of loyalty.
Adam Smith’s main idea was that the government should not regulate trade but rather individuals could handle their own affairs in trade and business. Adam Smith's economic theories were particularly influential in Britain, Europe and America. The Wealth of Nations had a profound effect on how the government in America was organised.
The economic views of Adam Smith and Karl Marx Microeconomics Eduardo De Oliveira Superti Table of Contents: Abstract 3 Introduction 4 The economic views of Adam Smith 5 The economic views of Karl Marx 6 Adam Smith vs. Karl Marx 7 Examples in the world of today 9 Conclusion 10 Recommendations 11 Bibliography 12 Introduction Adam Smith and Karl Marx were completely contrasting economists throughout their time and had an enormous effect on the world and the way we view economics. They represent the ideas of capitalism and socialism.
Adam Smith is an 18th-century philosopher and free-market economist. He is known as the father of economics and is famous for his ideas about the efficiency of the division of labor and the societal benefits of individuals ' pursuit of their own self-interest. Smith is best known for two classic works: The Theory of Moral Sentiments, and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually known as The Wealth of Nations, is the first modern work of economics and the book which is considered in this research. This research will discuss chapter four of The Wealth of Nations (WN), specifically Smith’s paragraph of water diamond paradox.
Should todays Christians be pro or anti free market, pro or anti-globalization? How are we to survive in a modern world of scarcity? Theologian William Cavanaugh uses Christian resources to incisively address basic economic matters like the free market, consumer culture, globalization, and scarcity. Cavanaugh argues that we should not just accept these terms but rather enforce a Christian approach and way of living.
Adam Smith, an advocate of capitalism, in his book, The Wealth of Nations wrote that all individuals are selfish and by performing to the best of their capabilities towards their own selfish interests they contribute towards the nation’s collective growth. Karl Marx, on the other hand criticized capitalism and believed that socialism and communism are society’s best chance of maximizing individual happiness, about which he wrote in his book Das Kapital. In this paper, we will compare and contrast the economics theories of Adam Smith and Karl Marx on the lines of labor theory of value, division of labor, alienation of workers from labor and human happiness and surplus profit and its social implications. This paper will also discuss how… Adam Smith believes that there are two types of ‘values’ of a commodity – ‘utility value’ and ‘exchange value’. The utility value of a commodity is based on how useful a commodity is and the exchange value of a commodity refers to how much we can get in exchange for a commodity if we were to sell it.
The division of labor is monumental to the growth of the capitalist economy because of its profound effects on efficiency, work ethics, and worker solidarity. However, certain deficiencies such as alienation of the worker can cause challenges in the work place. Theorist Adam Smith believed that an efficiency work ethic was the key to a prosperous capitalist economy. Smith stated that his theory of labor division focuses on specialization (as cited in
A central theme to Adam Smith’s idea of economic prosperity is derived from the cooperation of civilians to contribute to the welfare of all. When describing the complexity of the division of labor and its inherent ability to increase one’s standard of living, Smith states, “Without the assistance and co-operation of many thousands, the very meanest person in a civilized country could not be provided the easy and simple manner in which he is commonly accommodated” (Smith 20). Smith believes that the exchanging of goods is paramount to a flourishing economy, and even declares that it is of human nature to desire such transactions among other fellow citizens. The cooperation of the people – galvanized by the ambition of self-interest – is what