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Adam Smith on Mercantilism
marginalrevolution.com/marginalrevolution/2025/05/adam-smith-on-mercantilism.html
ChatGPT: Adam Smith strongly criticized mercantilism in The Wealth of Nations (1776), arguing that it was a flawed and self-defeating economic doctrine. His main points:
Wealth is not gold: Mercantilists equated national wealth with the accumulation of gold and silver (bullion). Smith…
This story appeared on marginalrevolution.com, 2025-05-11 11:21:44.