--- title: "Meaning & Key Takeaway of: During the two centuries since the…" description: "\"During the two centuries since the publication of 'The Wealth of Nations,' the main activity of economists, it seems to me, has been to fill the gaps i..." image: "https://sms4smile.com/quotes/i/8ba/ronald-coase-17623_economists_during-the-two-centuries-since-the-publi_2737234.png" --- # During the two centuries since the publication of 'The… ![“During the two centuries since the publication of 'The Wealth of Nations,' the main activity of economists, it seems to me, has been to fill the gaps in Adam Smith's system, to correct his errors and to make his analysis vastly more exact.” quote by Ronald Coase](https://sms4smile.com/quotes/i/8ba/ronald-coase-17623_economists_during-the-two-centuries-since-the-publi_2737234.png) [Download](https://sms4smile.com/quotes/i/8ba/ronald-coase-17623_economists_during-the-two-centuries-since-the-publi_2737234.png) [Open image](https://sms4smile.com/quotes/i/8ba/ronald-coase-17623_economists_during-the-two-centuries-since-the-publi_2737234.png) > “During the two centuries since the publication of 'The Wealth of Nations,' the main activity of economists, it seems to me, has been to fill the gaps in Adam Smith's system, to correct his errors and to make his analysis vastly more exact.” [Ronald Coase](https://sms4smile.com/quotes/author/ronald-coase/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economists have spent centuries refining Adam Smith’s ideas, filling gaps and correcting errors. **In simple terms:** Economists refine and correct Smith. Key Takeaway Build on foundations, seek precision. Themes economics theory development historical analysis Mood analytical historical Type academic professional When to use this quote - policy analysis - academic research - economic modeling Key Concepts methodology incremental improvement Questions to Reflect On - What gaps remain in economic theory? - How can we improve accuracy? 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