Chapter 8 Industry January 15, 2022 by Dalisay 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 Back to Producer's & Consumer's Surplus and Deadweight Loss Next Neoclassical Economics vs Classical Economics