4 ms·
I’m not even sure Smith was a capitalist in the modern sense. He held out similar derision for the merchant class, although the exact quote escapes me.
by pmiller2 7y ago
I’m not even sure Smith was a capitalist in the modern sense. He held out similar derision for the merchant class, although the exact quote escapes me.
- RockIslandLine 7y agoThe quote most people would reference is probably this one: 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. – The Wealth of Nations, Book I, Chapter X.
- pmiller2 7y agoThat’s the one I was thinking of.