An Economic History of the World since 1400

Adam Smith, Mercantilism, State Building (1x10)

Air date: Oct 07, 2016

According to Adam Smith, if labor creates value, then the amount of wealth in the world could increase by the collective efforts of a nation. Welcome to the dawn of mercantilism, which, as you'll learn here, radically redefined how rulers used economic policy-specifically to further the process of state building.