Smith Quotes :: essays papers

Smith QuotesMonopoly...is a great enemy to good management. The wealth of Nations, appropriate I Chapter XI Part I p148The monopolists, by retentivity the market constantly understocked, by never fully supplying the powerful demand, sell their commodities much above the natural footing.The Wealth of Nations, , Book I, Chapter VII, p63The price of monopoly is upon every occasion the highest which can be got.The Wealth of Nations, , Book I, Chapter VII, p63 plenty of the equal trade seldom meet together, even for merriment and diversion, nonwithstanding the conversation ends in a conspiracy against the public, or in around contrivance to raise prices. It is impossible indeed to prevent such(prenominal) meetings, by any law which either could be executed, or would be accordant with liberty and justice. But though the law cannot hinder people of the said(prenominal) trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies much less to render them necessary. A ordinance which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies... A regulation which enables those of the same trade to tax themselves in order to provide for their poor, their sick, their widows, and orphans, by giving them a common interest to manage, renders such assemblies necessary. An incorporation not only renders them necessary, but makes the act of the majority binding upon the whole.The Wealth of Nations, , Book I, Chapter X, p130 To widen the market and to narrow the competition is perpetually the interest of the dealers... The suggestion of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted, till after having been large and carefully examined, not only with the most scrupulous, but with the most mistrustful attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have mostly an interest to deceive and even to opprress the public, and who accordingly have, upon many occasions, both deceived and laden it.The Wealth of Nations, p267On competition The natural price, or the price of exonerate competition...is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together.