Wealth of Nations

Liberty Quotation: Adam Smith on Collusion

Posted on

Adam Smith“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices…. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies, much less to render them necessary.”

Adam Smith, The Wealth Of Nations [1776]

Liberty Quotation: Adam Smith on the Public Good

Quote Posted on Updated on

Adam Smith“I have never known much good done by those who affected to trade for the public good.  It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it.”

Adam Smith, The Wealth of Nations [1776]