Blog 8

1) Smith thought like a capitalist and thought that measuring a nations wealth based on what that country could produce, Known today as GDP, rather than the amount of gold or silver they had. This makes sense because If a country has poor living quality for its citizens, but a lot of gold, then that would be a false representation of the true wealth of that country. He explains how a small town can benefit the country and how that can both hurt or help that small town. This makes sense because this is how nations grow, through the small things that will add up over time.


2)  Today, a secure investment would be a nice home to properly represent ones wealth. Land can still represent wealth, just not as common as back then. A home is something that one will show off to represent wealth. It can also be used to boast about how much money one is making.
3) Attention should first be focused on agriculture because that is the fuel for most citizens and one cannot have manufacturing without a steady food supply. However, I believe that in today's society, being a farmer is becoming less and less desirable and more attention is being focused towards manufacturing. This is because there is more benefits like healthcare when you work for someone else, rather than on a farm.