Adam Smith：The Wealth of Nations, Book IV, Chapter VII, Paragraph 1407

It subjects her to an absolute disadvantage; because, in such branches of trade, her merchants cannot get this greater profit without selling dearer than they otherwise would do, both the goods of foreign countries which they import into their own, and the goods of their own country which they export to foreign countries. Their own country must both buy dearer and sell dearer; must both buy less, and sell less; must both enjoy less and produce less, than she otherwise would do.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book IV, Chapter VII, paragraph 1407 · Verified：2026-10-19 · Verification：Exact match

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