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Agio
The agricultural system is the theory of political economy proposed by the French physiocrats, who view agricultural rude produce as the basis for society’s revenue and wealth. The agricultural system promotes land improvement and free trade, so Smith insists that it’s better than the mercantile system, but it still wrongly treats merchants and manufacturers as unproductive laborers.
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Agricultural System Term Timeline in The Wealth of Nations
The timeline below shows where the term Agricultural System appears in The Wealth of Nations. The colored dots and icons indicate which themes are associated with that appearance.
Book 4, Introduction
...address the two main approaches to political economy: the mercantile (or commercial) system and the agricultural system .
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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...
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The agricultural system treats artisans, manufacturers, and merchants as having zero overall impact on society’s annual revenue. They...
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The agricultural system is wrong to call artisans, manufacturers, and merchants unproductive. Even if they don’t produce a...
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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...
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