Adam Smith in his renowned treatise, The Wealth of Nations , provided not only a rationale for a market economy based upon competition, but also advanced a rationale for trade among nations called the:

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Adam Smith's concept of the Theory of Absolute Advantage in "The Wealth of Nations" explains how countries benefit from trading if they have an absolute advantage in producing certain goods more efficiently than other countries.

Adam Smith in His Renowned Treatise, the Wealth of Nations