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# Parsimony and Privation

## Definition

The economic principles by which nations composed chiefly of merchants, artificers, and manufacturers can grow rich only through saving and depriving themselves of enjoyment of part of their funds, as opposed to agricultural nations that can grow rich through industry and enjoyment.

## Source Chapter

Book IV, Chapter 9

## Context

Smith contrasts the economic strategies available to different types of nations, showing how agricultural systems recognize that commercial nations must rely on frugality and saving to accumulate wealth, while agricultural nations can simultaneously enjoy consumption and increase their revenue.

## Economic Domain

Accumulation

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