706 B
706 B
Trade as Union and Friendship
Definition
The natural role of commerce as a cooperative activity that should foster peaceful relations and mutual benefit between nations through the voluntary exchange of goods and services, rather than serving as a source of conflict and competition.
Source Chapter
Book IV, Chapter 3
Context
Smith laments how mercantile policies have perverted the natural character of trade, transforming what should be a bond of international friendship into a source of discord and animosity between nations.
Economic Domain
Exchange