Adam Smith’s theory of international trade 250 years after The wealth of nations: considerations on contemporary re-readings.

Abstract

The commemoration of the 250th anniversary of The wealth of nations has renewed interest in assessing the relevance of Adam Smith’s theory of international trade in a context marked by globalization, global value chains and resurgent protectionism. This article systematically identifies recent academic and essayistic work linked to the anniversary that explicitly addresses Smith’s trade theory and its contemporary significance. Based on a structured literature review with clear search and selection criteria, it finds that, although references to Smith as the “father of free trade” are widespread, studies that rigorously connect his trade model to current debates on globalization, the World Trade Organization (WTO) and free trade agreements remain limited.