22 lines
757 B
Markdown
22 lines
757 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-2-chapter-02 -->
|
|
|
|
# Waggon-Way Through the Air Metaphor
|
|
|
|
## Definition
|
|
|
|
Smith's analogy comparing paper money to an aerial waggon-way that converts highways (gold and silver) into productive land. This illustrates how paper money can reduce the capital tied up in circulation and make it available for productive use.
|
|
|
|
## Source Chapter
|
|
|
|
Book II, Chapter 2
|
|
|
|
## Context
|
|
|
|
Smith uses this vivid metaphor to explain how paper money can reduce the capital needed for circulation, freeing up resources for productive investment. The metaphor illustrates the efficiency gains from substituting paper for metal money.
|
|
|
|
## Economic Domain
|
|
|
|
General Theory
|
|
|
|
---
|