Martins, Nuno O.2014-08-282014-08-282014Martins, Nuno Miguel Ornelas (2014). "Adam Smith on power and maritime trade", Mediterranean Studies, 22(1): 38-56. DOI: 10.1353/mds.2014.0003.1074-164X (Print)2161-4741 (Online)http://hdl.handle.net/10400.3/3137Copyright © 2014 The Pennsylvania State University, University Park, PA.Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations is often interpreted as an explanation of the self-regulating nature of the market system, where an "invisible hand" leads to a harmonious coordination of different economic agents' pursuit of self-interest, so that economic development is brought about naturally through the division of labor. However, a closer reading of Smith's contribution shows that he saw the expansion of the market as a process typically driven by military and political power. For Smith, cases of a natural and spontaneous growth of industry occur only due to exceptional circumstances.engAdam SmithPowerTradeConductSurplusMediterranean ColoniesAtlantic Coloniesjournal article2014-08-2310.1353/mds.2014.0003