Of Its Own Accord: Adam Smith on the Export-Import Bank

Daniel B. Klein

Econ Journal Watch, 2015, vol. 12, issue 3, 479–487

Abstract: This article assembles quotations by Adam Smith regarding bounties—subsidies paid to producers for their productions, usually for export. The quotations presented here suggest, perhaps, what Adam Smith would say today about the Export-Import Bank of the United States. The export subsidies that Smith treated were bounties paid directly to exporters, whereas those of the Export-Import Bank principally take the form of subsidized credit. But the form does not much affect most of Smith’s analysis of export subsidization.

Keywords: Bounties; export subsidization; Export-Import Bank; mercantilism; Adam Smith; liberal; free trade (search for similar items in EconPapers)
JEL-codes: B12 F1 (search for similar items in EconPapers)
Date: 2015
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