Book IV, Chapter VII
Extended analysis of European colonies; argues the colonial monopoly diverts capital from more productive uses.
Read in Books4Free →Colonies and Empire
From The Wealth of Nations by Adam Smith
Smith critiques the colonial monopoly system as economically harmful to Britain and recommends either granting representation or amicable separation, particularly for the American colonies.
Book IV, Chapter VII, Part III
Proposes either union with representation or peaceful separation from the American colonies.
Read in Books4Free →Book V, Chapter III
Closing recommendation that Britain accommodate its imperial ambitions to its 'real mediocrity of her circumstances.'
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