Adam Smith
1723–1790, Scotland (the Scottish Enlightenment: Kirkcaldy, Glasgow, Edinburgh)
Closing the Strait, Taxing the World
When a single waterway becomes hostage to maximal demands and punitive sanctions, the price is paid not by statesmen at the table but by the labouring poor far from it.
We are told that the reopening of the Strait of Hormuz, a principal passage for the world’s oil, is made contingent on a catalogue of conditions. The government of the United States is asked to compensate for alleged violations of an interim memorandum, to lift sanctions and a naval blockade, to “completely compensate” war damages, to release frozen assets without condition, and to cease all attacks on Iran’s allies. At the same time, that government has bound its own hands, declaring that sanctions will only disappear upon a broader agreement touching nuclear designs. Each party thus piles preconditions upon preconditions, and the Strait remains shut while the negotiators perfect their virtue.
Read the essay