27 lines
795 B
Markdown
27 lines
795 B
Markdown
|
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-2-chapter-03 -->
|
||
|
|
|
||
|
|
# Exportation of Gold and Silver as Effect of Declension
|
||
|
|
|
||
|
|
## Definition
|
||
|
|
|
||
|
|
The consequence rather than cause of economic decline, where diminishing
|
||
|
|
annual produce leads to reduced domestic circulation of money, forcing its
|
||
|
|
exportation to purchase consumable goods abroad. This exportation continues
|
||
|
|
for some time to support consumption beyond the value of domestic produce.
|
||
|
|
|
||
|
|
## Source Chapter
|
||
|
|
|
||
|
|
Book II, Chapter 3
|
||
|
|
|
||
|
|
## Context
|
||
|
|
|
||
|
|
Smith refutes the mercantilist view that gold and silver export causes
|
||
|
|
economic decline, arguing instead that it is the effect of declining
|
||
|
|
production and can even temporarily alleviate the misery of declension.
|
||
|
|
|
||
|
|
## Economic Domain
|
||
|
|
|
||
|
|
Exchange
|
||
|
|
|
||
|
|
---
|