ABSTRACT

The First Commandment establishes that the most effective forum for transmitting information from the consumer to the producer is the market place. The greater the freedom of competition, the better the communication. The second commandment contains a warning against falling into the temptation of believing false claims that there are alternative information systems which can surpass the free play of market forces. Adam Smith’s Fifth Commandment is as popular with the owners of capital as the Biblical Commandment is with the parents of children. For it reveals that the path of economic righteousness lies through saving and the accumulation of capital. Economic freedom in international trade is essential to promote the wealth of the nation. The reward for hearkening diligently to the words of Adam Smith and obeying his Free-Trade commandments is that entry into the Promised Land of economic prosperity is open to all classes of society.