Smith Quotes :: essays papers

Smith QuotesMonopoly...is a great enemy to good management. The wealthiness of Nations, leger I Chapter XI Part I p148The monopolists, by safekeeping the market constantly understocked, by never fully supplying the sound demand, sell their commodities much above the natural expenditure.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 battalion of the comparable trade seldom meet together, even for merriment and diversion, only the conversation ends in a conspiracy against the public, or in more or less contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be pursuant(predicate) with liberty and justice. But though the law can non hinder people of the same(p) trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies much less to render th em necessary. A mandate which obliges all those of the same trade in a particular town to enter their name 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 evermore the interest of the dealers... The object 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 foresightful and carefully examined, not only with the most scrupulous, but with the most queer attention. It comes from an order of m en, whose interest is never exactly the same with that of the public, who have slackly an interest to deceive and even to opprress the public, and who accordingly have, upon many occasions, both deceived and loaded it.The Wealth of Nations, p267On competition The natural price, or the price of relax competition...is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together.