4 ms·
It's possible you're right, but that quote is irrelevant. That's about monopolies, specifically in the form of trade associations. Smith thought any kind of mon
by mvzink 15y ago
It's possible you're right, but that quote is irrelevant. That's about monopolies, specifically in the form of trade associations. Smith thought any kind of monopolies—trusts, unions, import duties—were bad, that's for sure.
I was talking about fabricated demand, which I don't have a quote for because I don't have my notes or copies of Wealth of Nations or Theory of Moral Sentiments with me at the moment. But my basic argument, even if he didn't explicitly treat the subject, would be that fabricated demand is an accumulation of capital, thereby increasing national opulence, which Smith holds as the highest good.