In ‘Of the Natural Progress of Opulence

In ‘Of the Natural Progress of Opulence° (441-51), Adam Smith writes, ‘According to the natural course of things, therefore, the greater part of the capital of every growing society is, first, directed to agriculture, afterwards to manufactures, and last of all to foreign commerce” (449, par. 8). How exactly does Robert B. Reich’s analysis of the various segments of the economy in “Why the Rich Are Getting Richer and the Poor, Poorer (513-31) complicate Smith’s argument about “the natural progress of opulence’? Does Smith’s economic analysis help one to understand the new model of economic progress in the United States, as described by Reich? If so, how? If not, why not?
























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