Tuesday, May 12, 2020

Americas Foreign Aid Policy Essay - 5410 Words

Its Time for Americas Foreign Aid Policy to Follow Thomas Malthus’ Prescriptions During the late 1700s, Adam Smith and Thomas Malthus each entered their predictions on the future of the world’s economies into the history books. In his writings in An Inquiry into the Nature and Causes of the Wealth of Nations, Smith theorized that national economies could be continuously improved by means of the division of labor, efficient production of goods, and international trade. In An Essay on the Principle of Population, Thomas Malthus predicted that the sustainable production of food in relation to population was vital to the mere existence of national economies in order to ensure an able labor force. Smith believed that the success or†¦show more content†¦The outcome of these attempts to bolster development will then be investigated, and finally the writings of Thomas Malthus will be used to provide insight into developing policy prescriptions. Adam Smith, U.S. Foreign Aid Advisor The wealth of a neighboring nation, though dangerous in war and politicks, is certainly advantageous in trade. In a state of hostility it may enable our enemies to maintain fleets and armies superior to our own; but in a state of peace and commerce it must likewise enable them to exchange with us to a greater value, and to afford a better market, either for the immediate produce of our own industry, or for whatever is purchased with that produce. As a rich man is likely to be a better customer to the industrious people in his neighborhood, than a poor, so is likewise a rich nation (Smith, 1776: 494). Throughout The Wealth of Nations, Adam Smith contends that in order for a nation to increase its own national wealth, it must engage in trade with its neighbors. As explained in the quote above, wealthy neighboring nations are largely preferred over poorer ones in order to maximize the advantages gained through international exchange. The more money an individual nation has, the more capable they will be of purchasing your goods, and in this way increasing your national wealth. With this wealth, you will beShow MoreRelatedTo What Extent Was Marshall Aid Merely a Policy of American Self Interest843 Words   |  4 PagesThe American policy of Marshall Aid sparked both huge appraisal and significant opposition, and to this day it is debated whether it was purely a policy of self-interest and an imposition of America’s political and economic views on a weak and vulnerable Europe, or alternatively one of the greatest acts of altruism and generosity in modern history. It was enormo usly successful, ‘It was the most unambiguously and triumphantly successful of all America’s post-war policies’ , and helped to create aRead MoreAmerican Foreign Policy And Foreign Aid1366 Words   |  6 PagesAmerican Foreign Policy and Foreign Aid America tends to involved herself in many other countries affairs. 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