(Adam) Smith’s Observation
People of the same trade seldom meet together even for merriment and diversion but the conversation ends in a conspiracy against the public to raise prices.
Source: The Wealth of Nations 1776
Continuing a famous metaphor of Smith’s, it could be said that ‘the invisible hand’ operates beneath the table as well as above it. For more about that hand, see Spencer’s Law.
Discussion of (Adam) Smith’s Observation
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