Famous Exceptions to Free Trade

  • Gavin Kennedy

Abstract

Just as Smith was reticent to employ the words laissez faire, he also did not use the words laissez passer (‘let it pass’), because he was not in favour of unrestricted free international trade, though Smith was quoted with greater authority on free international trade than he was on laissez faire.1 It comes as a minor shock to some people (it did to me when Professor Andrew Skinner drew my attention to it in 1975 — I was researching the economics of defence) to discover that Smith, contrary to his reputation, adamantly advocated two major breaches of free international trade.

Keywords

Europe Shipping Mast Lost Monopoly 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Gavin Kennedy 2005

Authors and Affiliations

  • Gavin Kennedy
    • 1
  1. 1.EdinburghUK

Personalised recommendations