I think it wasn't Adam Smith, it was David Ricardo and the year was 1817.
The flaw in the FEE article is that what is going on isn't trade, it is international labor arbitrage, something unforeseen by Smith and Ricardo. Paul Craig Roberts has written about this.
Our trade rivals, particularly in Asia, have mastered a model where they keep their home markets restricted for their domestic producers by means of non-tariff barriers. This gives their producers are guaranteed market as they fight it out with American manufacturers for the American market. Our companies, without a guaranteed home market, are at a big disadvantage right from the start.
Countries have interests that go beyond getting the absolute cheapest price on consumer items. Our competitors understand this and as long as they can take good employment away from us and for their own citizens they will do it all that they can.
America's massive manufacturing capacity was once known as The Arsenal of Democracy. You better pray that we don't need it now or any time soon.
No, it was Smith. Ricardo built on it and took it farther.
Exactly. Thank you.
Paul Craig Roberts has also written about how Bush brought down the Twin Towers, so there’s that.