Introduction“, Monthly Review vol. 44, no. 3 (July 1992), pp. 1-9.

“The discovery of America and that of a passage to the East Indies by the Cape of Good Hope,” Adam Smith wrote in 1776 in his Wealth of Nations, the book that more than any other was to mark the birth of liberal political economy, “are the two greatest and most important events recorded in the history of mankind.”


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