Adam Smith was among the first economists to show that two-way trade is more beneficial to a country that only exporting in exchange for gold or currencies.

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Adam Smith, in his seminal work "The Wealth of Nations," argued against mercantilism, the prevalent economic theory of his time that emphasized exports over imports for gold or silver. He demonstrated that two-way trade, based on the principle of absolute advantage, allows countries to specialize in the production of goods they can produce most efficiently, thereby benefiting all trading partners and increasing overall economic welfare.

Adam Smith Was Among the First Economists to Show That