What Adam Smith did not say in 1776, however, is how England fitted into the equation. For if the century that followed the discoveries of the 1490s belonged to Spain and Portugal, with the fruits showered on the empires of the east, then the next 200 years would belong to countries in the north of Europe. Against all expectations, the world’s centre of gravity was about to move again. This time it would belong to a Britain that was about to become Great.
