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Since the beginning of time man has sought after wealth. ... Some fell back on their natural inclinations to the land and became farmers, cultivating new territory. ... This chain of preferences demonstrates Adam Smith’s theories of the natural course to a nation’s wealth. Following man’s natural inclinations is the first step in this process. As Smith stated in his writing “Of the Natural Progress of Opulence,” “If human institutions had never thwarted those natural inclinations, the towns could no-where have increased beyond what the improvement and cultivation of the territory in which they were situated could support” (Smith 213). ... It requires the combination of all three steps consecutively, in order to achieve progression in a nation’s wealth.
Adam Smith further writes that the natural course of a nation’s wealth is first agriculture, then manufacturing, and lastly foreign commerce. This order is based on man’s natural preference towards the land. ... Although agriculture comes first in Smith’s order, a nation needs both a stable town and country to build a wealthy economy. ...
The final stage in Smith’s natural order, foreign commerce, gave structure to the nation. ... Meaning that since he has achieved the maximum amount of wealth he can from both farming and manufacturing, the final step is to move into foreign trade.
Approximate Word count = 973
Approximate Pages = 3.9
(250 words per page double spaced)
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