Adam Smith, The Wealth of Nations (1776), Book IV Chapter II, p. 489.
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To give the monopoly of the home-market to the produce of domestic industry, in any particular art or manufacture, is in some measure to direct private people in what manner they ought to employ their capitals, and must, in almost all cases, be either a useless or a hurtful regulation.
— Adam Smith on Domestic industry
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "To give the monopoly of the home-market to the produce of domestic industry, in any particular art or manufacture, is in some measure to direct private people in what manner they ought to employ their capitals, and must, in almost all cases, be either a useless or a hurtful regulation." in the context of "Adam Smith, The Wealth of Nations (1776), Book IV Chapter II, p. 489." to mean that wisdom is timeless.
Source: Wikiquote: "Domestic industry" (Quotes)
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About Adam Smith
Adam Smith (16 June 1723 – 17 July 1790) was a Scottish-born economist and philosopher, widely considered the "father of modern economics".
About Adam Smith
Adam Smith (16 June 1723 – 17 July 1790) was a Scottish-born economist and philosopher, widely considered the "father of modern economics".
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