On: Middle East crisis live: US targets Iranian boats amid tense push for control of

The news from the Strait of Hormuz troubles me deeply, though it hardly surprises. The merchant, in his pursuit of profit, often finds himself entangled in the affairs of nations, and nations, in their pursuit of power, often find themselves disrupting the very channels of commerce that sustain them. Here we see the familiar spectacle: a vital artery of trade, through which the very lifeblood of distant economies flows, now made a theatre for military posturing and destructive acts.

One observes the claims and counter-claims - the destruction of boats, the denial thereof, the barrage of attacks. Each side, no doubt, presents its actions as a necessary defence, a prudent measure for the protection of its interests or its people. Yet, I am reminded of those conversations among merchants, ostensibly gathered for merriment, which inevitably turn to schemes against the public. So too, do nations, under the guise of security, often conspire against the general tranquillity and prosperity of mankind.

The true cost of such disruptions is rarely borne by those who instigate them. It is the distant consumer, the industrious manufacturer, the common labourer, whose daily bread depends upon the steady flow of goods, who will ultimately pay the price in higher costs and diminished opportunities. The invisible hand, which can so elegantly guide individual self-interest towards collective good, is here made to grasp a sword, disrupting the delicate mechanisms of supply and demand, and replacing the quiet hum of commerce with the ominous clang of conflict. One must always look beyond the immediate pronouncements of power and consider the broader, often unintended, consequences for the great body of society. The spectator in my breast feels a profound disquiet.