An Essay on Economic Theory

1.16. The more Labor there is in a State, the more the State is Judged Naturally Rich

An Essay on Economic Theory by Richard Cantillon
Richard Cantillon

The wealth of a nation depends on putting the labor force to work. Those who are unnecessary for farming can be employed in making higher quality products and manufactured goods, particularly durable goods made from metal. Saving is the key determinant of wealth and gold is a particularly useful form of savings because it can purchase all things, even in time of war. The prince and property owners determine how people will be employed by their consumption choices, while the Catholic Church reduces the resources available to materially sustain the people.

From Part 1: Production, Distribution, and Consumption. Narrated by Millian Quinteros.