“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.”

— Adam Smith

Source: The Wealth of Nations (1776), Book I, Chapter X, Part II, p. 152.
Context: 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. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty or justice. 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.

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Adam Smith 175

Scottish moral philosopher and political economist 1723–1790

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Source: (1776), Book I, Chapter XI, Part III, Conclusion of the Chapter, p. 292.

“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.”

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Adam Smith 175

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