Final answer:
The definition of a business man is broad, including anyone from a wage earner to a farmer to a merchant, all of whom engage in wealth creation. The concept of business emphasizes the importance of foreign trade and the balance of exports over imports for economic prosperity. Beyond accumulation, money's principal value lies in its ability to facilitate the exchange of goods and services.
Step-by-step explanation:
The conversation around the definition of a business man encompasses a broad spectrum of professional activities. It's not limited to individuals who are traditionally viewed as businessmen, like a merchant or an employer. A worker earning wages, a small-town attorney, or even a farmer can be considered business people because they all engage in the creation of wealth by applying brain and muscle to resources, or through trade. This inclusive view acknowledges the value of various economic activities ranging from local commerce to international trade.
Engaging in foreign trade is highlighted as a vital component to increase the wealth and treasure of a nation. The goal is to export more than what is imported in value. Money spent by local residents, such as professional athletes, also impacts the economy. When spending occurs outside the local area, it resembles importing goods, which affects the local economic balance. This can be related back to the necessity of a successful balance in trade where exports exceed imports, as emphasized by Thomas Mun and Adam Smith.
However, it's also pointed out that money is not just for accumulation but is mainly useful when exchanged for goods and services. This connects back to the overall concept of business as an exchange of value, whether the exchange is local, like bartering, or on a larger scale, such as international trade.