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SMITH AT 300: ADAM SMITH AND THE IDEA OF “POLICE”

Published online by Cambridge University Press:  20 February 2023

Alexandre Mendes Cunha Open the ORCID record for Alexandre Mendes Cunha [Opens in a new window]
Alexandre Mendes Cunha*
Affiliation:
Alexandre Mendes Cunha: Universidade Federal de Minas Gerais. Financial support from Alexander von Humboldt Foundation, CAPES, and CNPq are gratefully acknowledged. alexandre@cedeplar.ufmg.br
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Extract

“The more opulent therefore the society, labour will always be so much the dearer and work so much the cheaper, and if some opulent countries have lost several of their manufactures and some branches of their commerce by having been undersold in foreign markets by the traders and artisans of poorer countries, who were contented with less profit and smaller wages, this will rarely be found to have been merely the effect of the opulence of the one country and the poverty of the other. Some other cause, we may be assured, must have concurred. The rich country must have been guilty of some great error in its police.”

ED 2.12–2.13

Type
Symposium: Smith at 300
Information
Journal of the History of Economic Thought , Volume 45 , Issue 2 , June 2023 , pp. 198 - 200
Copyright
© The Author(s), 2023. Published by Cambridge University Press on behalf of the History of Economics Society

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References

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