The general idea is that when you buy stuff you're losing wealth so if you never buy anything then you never get poorer. Since we constantly dig gold up from the ground we still get richer over time even if nobody buys our stuff.
This is also why its importantly to gain colonies (Greenland/ Canada) or mineral rights from other countries so that the amount of stuff we have increases.
IMO, it's a theory that's missing the forest for the trees but it's historically very popular.
The general idea is that when you buy stuff you're losing wealth so if you never buy anything then you never get poorer. Since we constantly dig gold up from the ground we still get richer over time even if nobody buys our stuff.
This is also why its importantly to gain colonies (Greenland/ Canada) or mineral rights from other countries so that the amount of stuff we have increases.
IMO, it's a theory that's missing the forest for the trees but it's historically very popular.