based on any natural economic necessity. There is no natural limit to the quantity of wealth which can be produced, exchanged, and consumed within Great Britain except the limits imposed by restricted natural resources and the actual condition of the arts of industry. [12] Without, then, disputing the great utility of foreign trade to us, I would insist that the money income regarded as derived from foreign trade ought to be confined to the sum of the superior prices obtained for the goods sold abroad over those which could have been obtained for them (or for
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Imperialism, A Study
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