Investing · Western classics

Adam Smith:The Wealth of Nations, Book IV, Chapter VIII, Paragraph 1541

Adam Smith《The Wealth of Nations》· Book IV, Chapter VIII · Investing

By the famous treaty of commerce with Portugal, the consumer is prevented by duties from purchasing of a neighbouring country, a commodity which our own climate does not produce; but is obliged to purchase it of a distant country, though it is acknowledged, that the commodity of the distant country is of a worse quality than that of the near one. The home consumer is obliged to submit to this inconvenience, in order that the producer may import into the distant country some of his productions, upon more advantageous terms than he otherwise would have been allowed to do. The consumer, too, is obliged to pay whatever enhancement in the price of those very productions this forced exportation may occasion in the home market.

Source: https://www.gutenberg.org/ebooks/3300
Locator:Book IV, Chapter VIII, paragraph 1541 · Verified:2026-10-19 · Verification:Exact match

This is a direct reading: the original and source are kept; commentary will be added later.

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Does this passage change one judgment about money or risk today?

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