Quote by 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.
Summary
This quote, often attributed to Adam Smith, suggests that when people of the same profession or trade gather, their conversations tend to be self-serving and focused on benefiting themselves rather than the public interest. It implies that such discussions often revolve around colluding to manipulate prices or engaging in practices that are detrimental to consumers. The quote highlights a potential downside of socializing within professional circles, where the desire for personal gain can override ethical considerations and the public good.
Topics
Unions
By Adam Smith
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