Wealth Definition of Economics | Adam Smith | Part-2

In this video, I explained the meaning, features and criticisms of Adam Smith' s wealth definition.

WEALTH DEFINITION OF ECONOMICS:

According to classical Economists like Adam Smith, J.B.Say, Walker, J.S. Mill , Economics is a subject that studies nature of wealth and it's production, consumption, exchange and distribution etc.
According to wealth definition, the purpose of the study of Economics is to increase the prosperity of both individual and state via increasing the wealth only.So, this is quite vague and narrow definition of economics.

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