The Wealth of Nations Book 4 Chapter 9 - Systems in Political Economy

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Did agriculture really create all wealth, as the Physiocrats believed? In this video, we explore the economic system that placed farming at the center of national prosperity. From France’s mercantilist policies under Colbert to François Quesnay’s revolutionary Economic Table, we examine how land, labor, and trade were viewed by 18th-century economists. Did trade and manufacturing merely sustain themselves without adding value? And how did these ideas shape economic policies in France, China, and even Ancient Egypt? More importantly, what can we learn from this debate today? Discover why free trade benefits agriculture, how restricting industry harms farming, and why national wealth depends on more than just land. If you've ever wondered about the true sources of economic growth, this is the video for you.

Questions Answered in the Video:
Why did some economists believe only agriculture created wealth?
How did France’s policies under Colbert impact agriculture?
What was François Quesnay’s Economic Table?
Why were merchants and manufacturers labeled “unproductive”?
How did agricultural and commercial nations differ in economic strategies?
What role did free trade play in the growth of manufacturing?
How did China, Egypt, and India favor agriculture over industry?
Why did Greek and Roman restrictions on trade weaken their economies?
How does economic freedom naturally promote wealth?
What is the government’s proper role in economic development?

00:00 - Introduction to Agricultural Systems in Political Economy
00:12 - The Flaws of Agriculture
01:05 - The Three Classes of Workers
01:57 - Artisans and Merchants
03:19 - The Role of Merchants
04:22 - Trade Focused States
05:50 - Free Trade
06:42 - French Economist
07:34 - Economic Policy
08:40 - Artisans and Merchants
09:49 - Economic Growth
10:52 - Manufacturing Nations
11:42 - The Agricultural System
12:42 - Europe vs Other Nations
13:28 - Ancient Egypt and India
14:17 - Manufacturing
15:50 - Cities and Countryside
16:45 - Economic Freedom
17:30 - Outro

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