America's Foreign Aid Policy Essay

Economics becomes a large factor in the American imperialism; but more specifically that expansion in foreign markets is a vital part in the growth of America. As historian Charles Beard puts it, “[it] is indispensable to the prosperity of American business. Modern diplomacy is

Both Hardin and Benjamin make great points about wealthy nations and poor nations receiving and giving aid. We live on the same planet, and use the same resources, if only it was as easy to give resources as it is to use them.

Throughout the course of history, the United States has remained consistent with its national interest by taking many different actions in foreign policy. There have been both immediate and long term results of these actions. Foreign policy is the United States policy that defines how we deal with other countries economically and politically. It is made by congress, the president, and the people. Some of the motivations for United States foreign policy are national security, economics, and idealism. The United States entry into World War I in 1917 and the escalation of the Vietnam War in 1964 and the both had great impact on the United States.

The Wealth of Nations often considered to be merely a textbook of economics, is more of prescriptive text that endeavours to advice legislators on the manner in which it should structure those policies and institutions that support the practices of production and exchange. The purpose of doing so, it seems, is to best encourage public opulence and as a result public happiness and well-being.

If each country specializes in areas where its advantages are greatest or disadvantages are least, the gains from trade will make each country better off than it would be if it remained self-sufficient. [3]

Can greed and self-interest benefit our society’s economy? majority of people would say, but one man by the name of Adam Smith would’ve disagreed. he believed that profit motive even greed could be good for the economy. This very theory spiraled an onset of controversies and debates. However, his theory shined in the right light; justified is the best solution for the economy.

The Portuguese have a very high advantage with Japan in the trade. When the Portuguese trade with China, they have all the Chinese good that they need. Then, they go to Japan and trade the Chinese goods for Japanese silver. This makes the Portuguese highly rich in silver. The Portuguese then trades with China again, which lets China gain some Japanese silver, while the Portuguese saves some more, because they are receiving more and more of the Japanese silver because of the trade of Chinese goods. This takes advantage of China’s economy, but also makes it grow because little to no silver is being used for the people. (Doc. 4) England is another good example for having an advantage in the trade. England’s main imports were the goods of the Chinese, and the English people would sell the goods to other cities, colonies, or countries that did not have those imports from the East Indies. This gives England more money for trade between the countries that are not near the East Indies or countries that don’t want to trade with China. England then sends a little of the silver to China. If England quit this trade, their economy would drop faster than rain. Because of this trade, their economy and social groups are high, and it keeps China’s status high too, because the silver that is being traded is not going back to the countries that are trading with them. (Doc.

As interpreted in “The Manse, The Manor and the Market: New Perspectives on the Medieval Agricultural Revolution” Grantham was more focused on agricultural development rather than any other innovation. Moreover, Clark believes that during the 1800s in Europe considered a nation that trapped under the Malthusian idea, which meant that new technology was being introduced, along with new ways of productivity. The constitutional point that George Grantham believes that the fundamental reason for the lack of market incentives was because Europe lacked proper political practice in the 1800s is more prevalent. In the early 19th century, Europe was not capable of having a stable monarchy, which led to less productivity. As the monarchy did not provide

In the eighteenth century, most people thought they knew how countries get rich. The way they thought was that you have to export as much as possible and import as little as possible so that they can have a rich economy. They also thought that we had a fixed wealth but Adam Smith was the first person to oppose this theory. He proposed that

The works of both Adam Smith and Karl Marx have been highly influential on mainstream economics, and still hold precedence in global economic policy across the world. This essay will explore how natural harmony was a key characteristic of economic growth through capitalism, and how Marx believed this was in fact false as the edicts of capitalism were contradictory to its own goals. In the ‘Wealth of Nations’, Smith believed harmony could be achieved through self-interest and free market economics allowing enterprise to expand the economy and in turn improve society, however it was Marxs view that this was unobtainable due to the Smiths “laissez faire” approach to economics re-inforcing class divisions and therefore preventing the reduction of poverty that Smith ultimately aimed for.

Thomas Robert Malthus is one of the most controversial figures in the history of economics. He achieved fame chiefly from the population doctrine that is now closely linked with his name. Contrary to the late-eighteenth-century views that it was possible to improve people’s living standards, Malthus held that any such improvements would cause the population to grow and thereby reverse these gains. Malthus also sparked controversy with his contemporaries on issues of methodology (by arguing that economics should be an empirical rather than a deductive science), over questions of theory (by holding that economies can experience prolonged bouts of high unemployment), and on policy issues (by arguing against free

In Wealth of Nations, self-interest seems to be synonymous with selfishness, and be the driving force of capitalism and the necessary ingredient for personal and economic wealth. This is, however, and partial and superficial view. Although in Wealth of Nations Smith does declare that human’s primary motive for most actions is self-love, all of their actions are still made within the moral parameters of society, which were created because of sympathy. A man, for example, will not pursue his self-interest at any cost to the people around him. He has to be ethical and fair in his interactions in order to be seen as morally and socially acceptable. In this way an understanding of, and cooperation with the sympathetic nature of society proves to further one’s self-interests. Therefore, to act morally and sympathetically is in fact an act out of self-interest.

The country can maximize their wealth by putting the resources in the most competitive industries. Government created comparative advantage rather than free trade because now easier moves the production processes and the machines into countries that can produce more goods (Yeager & Tuereck, 1984). However, many countries now move to new trade theory suggests the ability firms to limit the number of competitors associated with economic scale (reduction of costs with a large scale of output) (Krugman, 1992). The comparative advantage occurs when two-way trade in identical products, it will useful where economic scale is important, but it will create problem with this model. As a result, government must intervene in international trade for protection to domestic firms (Krugman, 1990)

It is a fairly universal strategy to examine past and present trends in order to forecast the future. This can be commonly observed in everyday existence, as people rely on previous climate trends and recent weather phenomenon in order to make decisions such as how to dress and mode of transportation to use to go to work. Likewise, by employing the use of past and present data and trends, policymakers can make predictions of the future in order to create more effective policies, as well as find better “prescriptions” to solve existing problems (Lecture, 4/1/2010). There are existing neo-Malthusian theories, such as those made by Donella Meadows, et al., that the current trends, including increased population growth, subsequently

In An Inquiry into the Nature and Causes of the Wealth of Nations (1776), Smith attacked the intellectual basis of mercantilism and demonstrated that mercantilism actually weakens a country. Smith maintained that a country’s true wealth is measured by the wealth of all its citizens, not just that of its monarch (Mahoney, Trigg, Griffin, & Pustay, 1998).