Demographics in the Economic Theory of Adam Smith
DOI:
https://doi.org/10.5007/2175-8085.2025.e109578Keywords:
Population, Division of Labor, EconomyAbstract
Population growth plays a central role in understanding the economy, acting simultaneously as a source of demand, labor supply, and a driver of the production and distribution of wealth. This article revisits Adam Smith's theory, highlighting the population as a structural element of economic development. For Smith, population growth expanded the available workforce, enabling greater division of labor and productive specialization, generating gains in efficiency and productivity. Simultaneously, a larger population expanded consumer markets, stimulating the circulation of goods and trade. Thus, demographic dynamics did not represent a threat of scarcity but rather a driving force for economic growth.
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