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Text File  |  1992-09-03  |  434b  |  12 lines
  1. Economic theory, held in the 16th-18th
  2. centuries, that a nation's wealth (in the
  3. form of bullion or treasure) was the key to
  4. its prosperity. To this end, foreign trade
  5. should be regulated to obtain a surplus of
  6. exports over imports, and the state should
  7. intervene where necessary (for example
  8. subsidizing exports and taxing imports). The
  9. bullion theory of wealth was demolished by
  10. Adam Smith in Book IV of The Wealth of
  11. Nations 1776.
  12.