markitect-main/examples/infospace-with-history/output/entities/annual-importation-of-gold-and-silver-purposes.md

Annual Importation of Gold and Silver Purposes

Definition

The primary economic function of importing precious metals, which is to facilitate foreign trade rather than to increase domestic wealth through accumulation. Gold and silver serve as universal instruments of commerce that enable more efficient round-about foreign trade.

Source Chapter

Book IV, Chapter 6

Context

Smith refutes the mercantilist belief that importing gold and silver directly increases national wealth. He argues that these metals are imported primarily to facilitate foreign trade, not for domestic accumulation, and that their value lies in their function as instruments of commerce rather than as wealth in themselves.

Economic Domain

Exchange

---