 What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our...  The Works of David Ricardo - Page 180by David Ricardo, John Ramsay McCulloch - 1886 - 584 pagesFull view - About this book
 | Chris Brown, Terry Nardin, Nicholas Rengger - History - 2002 - 634 pages
...is prudence in the conduct of every private family can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity...some advantage. The general industry of the country, being always in proportion to the capital which employs it, will not thereby be diminished, no more... | |
 | Andreas F. Lowenfeld - Law - 2003 - 838 pages
...is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity...some advantage. The general industry of the country, being always in proportion to the capital which employs it, will not thereby be diminished, no more... | |
 | Michael Hart - Business & Economics - 2002 - 580 pages
...prudence in the conduct of every private family life, can scarcely be folly in that of a great kingdom. If a foreign country can supply us with a commodity...industry, employed in a way in which we have some advantage."'7 These modern economic ideas not only reflected the changing nature of economic activity... | |
 | Robert Benewick, Marc J. Blecher, Sarah Cook - Political Science - 2003 - 332 pages
...supposed to happen. Adam Smith essentially saw international specialisation as a progressive force: 'If a foreign country can supply us with a commodity...employed in a way in which we have some advantage' [Smith, 1776: 457]. He cautioned against the too-rapid removal of these protective measures: '[w]ere... | |
 | Jeffrey T. Bergner - Political Science - 2003 - 236 pages
...eventually eliminate the competing American industry. It is not quite that simple. As Adam Smith said, "If a foreign country can supply us with a commodity...cheaper than we ourselves can make it, better buy it off them with some part of our own industry, employed in a way in which we have some advantage."5 Less... | |
 | John Elliott Cairnes - Economics - 2004 - 312 pages
...What is prudence in the conduct of a private family can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity...some advantage. The general industry of the country being always in proportion to the capital which employs it, will not thereby be diminished, no more... | |
 | Oliver J. Thatcher - History - 2004 - 466 pages
...is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity...some advantage. The general industry of the country, being always in proportion to the capital which employs it, will not thereby be diminished, no more... | |
 | Adam Smith - Business & Economics - 2004 - 260 pages
...is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity...some advantage. The general industry of the country, being always in proportion to the capital which employs it, will not thereby be diminished, no more... | |
 | Gerald M. Meier - Business & Economics - 2004 - 264 pages
...is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity...employed in a way in which we have some advantage. (1776: bk. 4, ch. 2) Smith also viewed foreign trade as providing a "vent-for-surplus": When the produce... | |
 | Walter C. Clemens - Political Science - 2004 - 772 pages
...— should benefit all participants. Government efforts to keep out foreign products are misguided. "If a foreign country can supply us with a commodity...employed in a way in which we have some advantage." Still, Smith approved government intervention in three cases: (1) Defense: Britain should try to give... | |
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