745 B
745 B
Agricultural Price Stability
Definition
The degree to which agricultural prices remain relatively constant over time, unaffected by short-term fluctuations in supply or demand. Agricultural price stability can be pursued through various policy interventions and market mechanisms.
Source Chapter
Book I, Chapter 11
Context
Smith discusses the desirability and feasibility of agricultural price stability, arguing that attempts to stabilize prices often create more problems than they solve and that market-determined prices better serve long-term economic interests.
Economic Domain
Regulation