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What constitutes the wealth of nations for mercantilists and for Adam Smith?

What constitutes the wealth of nations for mercantilists and for Adam Smith?

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Answer #1

The main theme of economic thought between Merchanitalist and Adm Smith the what is the real wealth of the nation or source of wealth?

The Mercantilist views that the real wealth of the nation is precious metals such as gold, diamond and such other things and the source of the wealth increased through accruing more and more such precious metals.

Th Adam Smith and his followers believed that International free trade is the real wealth of the nation. The trade is increased by increasing the market share and market share of the country increase through the division of the labors and specializations.

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