Book IV

Smith introduces Book IV as an examination of different systems of political economy, setting the stage for his critique of mercantile and agricultural economic theories.

Smith identifies and will examine the principle underlying the commercial or mercantile system of economic organization.

Smith examines protectionist policies that restrict imports of goods that can be produced domestically.

Smith analyzes extreme mercantile restraints on imports from countries perceived to have favorable trade balances relative to the nation.

Smith examines drawbacks, a mercantile mechanism for refunding taxes on imported goods when they are re-exported.

Smith analyzes bounties, which are government payments designed to encourage and subsidize domestic export of goods.

Smith examines how commercial treaties between nations attempt to regulate trade relations and protect national economic interests.

Smith analyzes colonial systems and their role within mercantile economic structures.

Smith concludes his comprehensive critique of the mercantile system and its various mechanisms and policies.

Smith introduces his analysis of agricultural systems that view land production as the sole or principal source of national wealth and revenue.