markitect-main/examples/infospace-with-history/output/entities/inland-trade.md

Inland Trade

Definition

Commercial exchange that occurs within the boundaries of a single country, as distinguished from foreign trade, which Smith notes is generally less uncertain in its returns and therefore typically offers lower profit rates than foreign commerce.

Source Chapter

Book I, Chapter 10

Context

Smith observes that profits of stock vary with the certainty or uncertainty of returns, noting that inland trade is generally less risky than foreign trade. This observation contributes to his broader analysis of how different employments of capital offer varying risk-adjusted returns, though he argues these differences are less pronounced than wage differentials.

Economic Domain

Exchange

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