International Research Journal of Commerce , Arts and Science
( Online- ISSN 2319 - 9202 ) New DOI : 10.32804/CASIRJ
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CONTOURS OF THEORY OF ACCUMULATION BY ADAM SMITH
1 Author(s): FARIDA JALAL
Vol - 5, Issue- 1 , Page(s) : 82 - 94 (2014 ) DOI : https://doi.org/10.32804/CASIRJ
Adam Smith was the revolutionary economist. He came with his idea of wealth of nation, when the idea of mercantilist was dominant in the society. The basic idea of the Mercantilism was, “The objective of the political economy is to heap up gold and silver in the country and to multiply those metals over time” People saw national wealth in terms of a country’s stock of gold and silver. Importing goods from abroad was seen as damaging because it meant that this wealth must be given up to pay for them.