Adam Smith on Free Trade: The Case Against Tariffs

Adam Smith, author of "Wealth of Nations," argued against tariffs, championing free trade. He believed competition drives prosperity and that tariffs, a long-standing practice dating back to the Roman Empire, hinder global economic growth. In the past, European powers like Britain, France, and Spain imposed tariffs to protect their economies, but Smith advocated for a balanced trade approach where mutual benefit reigns. Why can’t we adopt this mindset today?