According to the economic theory of progressivism, a nation's prosperity depends on the amount of its capital, represented by bullion, and by the volume at which its exports exceed its imports.

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The economic theory of progressivism believes that a nation's prosperity depends on a larger role for government in regulating the economy and promoting social welfare, rather than just focusing on the amount of bullion or trade balance.

According to the Economic Theory of Progressivism, a Nation's Prosperity