Industry

Types of Industry

In Book 2, Chapter 5 of the Wealth of Nations, Adam Smith explained the four industries for goods, as the four employments of capitals:

1. Extractive

This includes agricultural, mining, and fishing.

2. Processing

This includes manufacturing

3. Wholesale

This includes warehousing and logistics. Ecommerce allows consumers to buy good directly from the warehouse or supplier.

4. Retail

This includes packaging and buying at the point of sale

According to Adam Smith, extractive and processing are the better foundations of wealth than foreign trade. This is proven by ancient Egypt, China, and India.

For even greater efficiency, Superphysics will aim for unifying Processing, Wholesale, and Retail, just as ecommerce unified Wholesale and Retail