In anticipation of my talk at an upcoming symposium this spring on “The Age of Trump: Projecting Policy and Legal Impacts in a Second Term” at the University of Saint Thomas (UST), I began blogging on Adam Smith’s timeless argument in favor of the “freedom of trade” with my 5 February post The Immortal Adam Smith. (FYI: I compiled my first set of Adam Smith-inspired blog posts 11 days later; see The ghost of Adam Smith.) In addition, I subsequently blogged about Smith’s four exceptions to free trade. For reference, links to my second set of Smith trade posts are assembled in one place below:
- Adam Smith defends the Jones Act?
- Smith’s defense of targeted tariffs
- Smith’s digression on the necessaries of life
- Two more Smithian exceptions to free trade: revenge and inertia
- Smith’s qualified defense of reciprocal tariffs
- Smith’s fourth and final exception to free trade
- Adam Smith, absolute advantage, and free trade
- The aftermath of the Seven Years’ War and Adam Smith’s defense of natural liberty
- Adam Smith on the politics of free trade
- Adam Smith’s theory of the second best
I then concluded my series on Adam Smith’s exceptions to free trade on 1 March with this post: Adam Smith on the freedom of trade: a coda. The question that I will leave as an exercise for the reader is this: does current U.S. trade policy fall within any of Smith’s pragmatic exceptions?



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