Adam Smith
1723–1790, Scotland (the Scottish Enlightenment: Kirkcaldy, Glasgow, Edinburgh)
Bargaining with Bayonets: When Defence Becomes a Tariff Chip
Turning joint military drills into a lever for investment and tariffs mistakes the market’s logic for war’s, and risks squandering a hard‑won peace dividend for a very visible, very narrow gain.
We are told that annual war games between the United States and South Korea have been cut short, after the president ordered these “inappropriate and hostile” drills scaled back. A South Korean official, Cho Hyun, explains that this shortening was intended in part to press his country to hasten $350 billion of investment in America, in exchange for lower tariffs. The coins upon the table, then, are not merely steel and soy, but missiles and manoeuvres. When I wrote in *The Wealth of Nations* of tracing every regulation to its effects upon prices, I did not imagine that exercises in which armies rehearse their own survival would themselves be treated as a kind of sliding scale.
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