Of the Natural Progress of Opulence
- Book III is called "Of the Different Progress of Opulence in Different Nations."
- Smith returns to his earlier discussion of the trade that happens between the town and the country. In Smith's mind, the farms are the most important things in the nation because they allow people to survive.
- That means that improving the land is a priority, but farmers need people from the town to do this. They need loans from banks to invest in new equipment, and they need the factories in the town to make this equipment.
- For Smith, the priority of a country's economy belongs with agriculture, then it goes to manufacturing, and then it goes to foreign trade.