Social Science in Business: Is A Wealthy Nation A Prosperous Nation?

Social Science in Business (Is A Wealthy Nation A Prosperous Nation?)
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Social Science in Business (Is A Wealthy Nation A Prosperous Nation?)
Introduction
Social science is one of the educational disciplines that help in the definition of concepts around the globe. One of the subtle concepts that people tend to ask is whether a wealthy nation is a prosperous nation. Some of the scholars in the field of social sciences argue out whether wealthy nations are prosperous nations. Some nations might be wealthy but not wealthy, based on issues such as the poor distribution of resources and imbalanced development. Some areas in the nation might be successful where citizens receive the best services and development is well distributed in their respective localities. Most of the scholars in the discipline of social science in business use development as one of the key factors that mark development in a nation. The reason behind the perception is that prosperous nations have better and reliable services to the citizens such as good education systems, good social amenities, good educations systems and good infrastructure, which are signs of development from a global perspective. The essay discusses social science in business under the section of whether a rich nation is a prosperous nation, where the paper uses Heilbroner's idea on how the 'drive for capital' and how it simultaneously produces 'wealth' and 'misery’ in business in the nineteenth and twentieth century.
Is a rich Nation a Prosperous Nation?
Most of the scholars argue out if a wealthy nation a prosperous nation based on some factors. One of the significant factors that expedites this scholarly argument is that some nations are wealthy but have the aspect of imbalanced development (Holcombe, 2014). Imbalanced development is an indication that there might be a gap between the rich and the poor, and some of the services in the country might be unevenly distributed in the country, which dilutes the aspect of prosperity. Another example that might make a wealthy country not to be a prosperous country is an overwhelming amount of vices in the leadership systems. Leadership systems need to have a concrete foundation of leadership attributes such as compassion for the subjects, integrity and good leadership. Some of the leaders might lack these attributes and have vices such as corruption and leadership systems that can hardly serve the citizens well and reliably. In the point where the systems are unreliable, and the vices are quite overwhelming, despite the wealth aspect, the prosperity of the country becomes a questionable aspect.
Adam Smith is one of the scholars in the field of social science who expounded on several prosperity issues in wealthy nations. One of the issues he raised was that a country’s future income depends on the capital accumulation of the country. If the country has good investments, then the citizens have income, and capital accumulation is quite easy, which makes the accumulation of the capital easy and business start easily, contributing significantly to the wealth of the nation. Another aspect of prosperity is the existence of free trade favorable business policies to increase the investment level in the respecti...