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Research Paper Proposal

1129 words - 5 pages

Title: Looking through life with an Invisible Hand in Adam Smith
Thesis: Throughout the centuries, countless philosophers have searched for what the meaning of life maybe. What is being? They have asked. Philosophers such as Heraclitus thought of being as fire. Other philosophers like Pythagoras, thought being was through numbers. Each philosopher thinks of life differently, although each shares their common goal. Some focus more on purpose through Christianity outlook such as St. Augustine and St. Thomas Aquinas. Others like Adam Smith and John Stuart Mill look at meaning more ethically. Focusing on Smith’s political view, he discusses a functioning society as “the ultimate end of all ...view middle of the document...

For example, Societies middle class. The middle class is the median between the rich and the poor. This class includes the working class citizens trying to provide food and shelter for their families. Cutting this middle man out takes the equalizer for the classes creating more power in one.
Many individuals feel that their earnings are theirs alone. Although earning your own money is fair, with holding your wealth not to help others is not. Here's why. This system is similar to welfare given by the government. Many of the conservative representatives in legislation feel that giving money to the poor simply a waste of tax dollars. They feel they should get up, find a job, and work to have money just like everyone else. The problem with this argument however, is that not everyone is able to get a job and provide necessities for their families. Even the act of stealing was “the worst crime of all, even through a poor man stealing from a rich man may increase overall happiness (Joyce)" according to Smith. Helen Joyce, an analyst for the Plus magazine, describes the invisible hand by describing Smith's logic behind it. She states “Smith was profoundly religious, and saw the 'invisible hand' as a mechanism by which a benevolent God administered the universe in which human happiness was maximized." What Joyce is stating is Smith's religious affiliations often blinded him of the other realms of reality. As stated previously, this theory has a black/ white position. It does not illicit him to see that this theory of the invisible hand as not a very beneficial outlook for people of a lower social stature.
Looking at the theory from an economic stand point, another fallacy within the argument is the laissez- faire approach. Essentially, this states that by leaving the economy alone, it will run its self which will in turn lead to a positive outcome in the economy. I do agree that by having more revenue to spend that will help the economy, but since there is only one major social group ( rich), how could this be regulated and distributed with only money getting put in(surplus) and nothing being taken out.

Strength: Although Smith's invisible hand has a very black and white outlook on the classes, looking at the argument on an economic level only, Smith discusses how with the invisible hand we have an operational supply and demand....

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