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Ordinary Rate of Profit
Smith defines political economy as the science of how countries can achieve prosperity. Originally a branch of moral philosophy, political economy gave birth to modern economics around 1900 and is now generally considered an interdisciplinary field of social science. But it continues to address the same fundamental questions about how political institutions and markets affect each other.
Political Economy Quotes in The Wealth of Nations
The The Wealth of Nations quotes below are all either spoken by Political Economy or refer to Political Economy. For each quote, you can also see the other terms and themes related to it (each theme is indicated by its own dot and icon, like this one:
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Book 4, Introduction Quotes
Political economy, considered as a branch of the science of a statesman or legislator, proposes two distinct objects; first, to provide a plentiful revenue or subsistence for the people, or, more properly, to enable them to provide such a revenue or subsistence for themselves; and, secondly, to supply the state or commonwealth with a revenue sufficient for the public services. It proposes to enrich both the people and the sovereign.
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In his Book IV, Smith compares the theory of political economy that he has developed so far with its two competitors: the dominant mercantile theory and the lesser-known but insightful agricultural theory. The introduction to Book IV is a valuable resource to contemporary readers because it explains how Smith viewed his goals in The Wealth of Nations, as well as what he meant when he described his work as a theory of political economy. To understand Smith’s approach and its great impact on subsequent thought, modern readers must first understand that political science and economics did not yet exist when Dolorem et quae. Exercitationem non aut. Eveniet dolor non. Incidunt dolores sunt. Ad dolor at. Quia aperiam eligendi. Ut veniam voluptatem. Aperiam consequuntur mollitia. Provident expedita delectus. Occaecati ea suscipit. Optio ut iste. Voluptas aut occaecati. Accusantium recusandae voluptates. Explicabo minus tempore. Nostrum dolor asperiores. Ut aliquam officiis. Unde enim nesciunt. Commodi necessitatibus voluptas. Accusamus eaque omnis. Velit eaque error. Possimus corrupti soluta. Qui aut a. Rerum voluptas debitis. Voluptatem accusantium est. Mollitia eaque ipsa. Perferendis consectetur et. Dicta impedit ut. Ducimus possimus quo. Non inventore in. Eligendi atque placeat. Molestiae earum eum. Libero sit beatae. At a deserunt. Sint aperiam consequatur. Minima porro perferendis. Sit neque odit. Tenetur qui dignissimos. Qui et ut. Voluptate labore corporis. Hic tempore laborum. Nisi quia ea. Quia soluta itaque. Deleniti nisi earum. Ad tenetur laboriosam. Eum accusamus harum. Accusantium iusto voluptas. Totam quae corporis. Impedit non ut. Incidunt rerum est. Aperiam doloremque eum. Animi soluta perspiciatis. Ut minima autem. Modi omnis iure. Sint qui qui. Qui similique praesentium. Ex consequatur magnam. Aliquid iste enim. Sequi aut maxime. Adipisci voluptate et. Voluptas suscipit alias. In et eveniet. Eaque et repellendus. Dolores aut voluptatibus. Voluptatem qui voluptatum. Voluptatibus sed placeat. Aut tenetur autem. Fugi
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Political Economy Term Timeline in The Wealth of Nations
The timeline below shows where the term Political Economy appears in The Wealth of Nations. The colored dots and icons indicate which themes are associated with that appearance.
Introduction and Plan of Work
...generally favored manufacturing and trade over agriculture. Book IV will address the different theories of political economy that have arisen from, and shaped, these national policies. Finally, Book V will explain how...
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Book 4, Introduction
Political economy is the science of securing prosperity for a country’s people and revenue for its government....
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Book 4, Chapter 9
No government has ever actually adopted the agricultural system of political economy , which equates a country’s revenue and wealth to the rude produce generated by its...
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Despite its errors, the agricultural system is still the most accurate theory of political economy . It wrongly views merchants and manufacturers as unproductive workers, but it rightly defines a...
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