27 lines
795 B
Markdown
27 lines
795 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-2-chapter-03 -->
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# Exportation of Gold and Silver as Effect of Declension
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## Definition
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The consequence rather than cause of economic decline, where diminishing
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annual produce leads to reduced domestic circulation of money, forcing its
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exportation to purchase consumable goods abroad. This exportation continues
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for some time to support consumption beyond the value of domestic produce.
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## Source Chapter
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Book II, Chapter 3
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## Context
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Smith refutes the mercantilist view that gold and silver export causes
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economic decline, arguing instead that it is the effect of declining
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production and can even temporarily alleviate the misery of declension.
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## Economic Domain
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Exchange
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---
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