The Private-Sector Recovery

[HoreTore]

No.

I stand by Adam Smith's definition; the wealth of a nation is determined by its annual land and labour-product. Creating a nail is the essence of creating wealth:

Let's say a man has 1 nail. Then he makes 3 more. Thus, through his labour and what he has taken from the land, he is now a wealthy 4-nail tycoon.

Wealth isn't created through trade with others, it is created by creating stuff. Odd concept, eh? Who pays for the workers upkeep while the nails are created, the government or a capitalist, is of no concern.

Trade is all nice and good as it allows people to focus on creating one thing to barter with what someone else is making, however it does not create any wealth itself. And the export/import-focus is re-donculous.