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

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  • Daniel B. Klein

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.

Suggested Citation

  • Daniel B. Klein, 2015. "Of Its Own Accord: Adam Smith on the Export-Import Bank," Econ Journal Watch, Econ Journal Watch, vol. 12(3), pages 479–487-4, September.
    • Handle: RePEc:ejw:journl:v:12:y:2015:i:3:p:479-487
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    References listed on IDEAS

    as
    1. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    2. Klein, Daniel B., 2014. "Knowledge and Coordination: A Liberal Interpretation," OUP Catalogue, Oxford University Press, number 9780199355327.
    3. Ross, Ian Simpson, 2010. "The Life of Adam Smith," OUP Catalogue, Oxford University Press, edition 2, number 9780199550036.
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    More about this item

    Keywords

    Bounties; export subsidization; Export-Import Bank; mercantilism; Adam Smith; liberal; free trade;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • F1 - International Economics - - Trade

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