Conversation Quotes
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.
"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
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Meaning of this quote
People within a trade may coordinate to restrict competition and raise prices.
Key takeaway:
Scrutinize arrangements that benefit sellers at the public's expense.
Origin of the quote
The Wealth of Nations (1776)
Who actually said this?
VerifiedWording located in the primary text; capitalization and punctuation may vary.
Source:
The Wealth of Nations (1776)
