“The act of navigation is not favourable to foreign commerce, or to the growth of that opulence which can arise from it. … As defence, however, is of much more importance than opulence, the act of navigation is, perhaps, the wisest of all the commercial regulations of England.”

—  Adam Smith

Source: The Wealth of Nations (1776), Book IV, Chapter II

Adopted from Wikiquote. Last update June 3, 2021. History

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Adam Smith 175
Scottish moral philosopher and political economist 1723–1790

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