22 lines
933 B
Markdown
22 lines
933 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-4-chapter-08 -->
|
|
|
|
# Natural Liberty of Trade
|
|
|
|
## Definition
|
|
|
|
The principle that individuals should be free to pursue their own economic interests through voluntary exchange, without government interference beyond the enforcement of contracts and prevention of fraud. This natural system allows market forces to determine prices, production, and trade patterns based on comparative advantage and consumer preferences.
|
|
|
|
## Source Chapter
|
|
|
|
Book IV, Chapter 8
|
|
|
|
## Context
|
|
|
|
Smith contrasts natural liberty with the artificial constraints of the mercantile system, arguing that free trade produces better outcomes for both individuals and nations. He demonstrates how government attempts to direct trade inevitably produce unintended consequences that harm the very interests they intend to serve.
|
|
|
|
## Economic Domain
|
|
|
|
Exchange
|
|
|
|
---
|