...Wealth of Nations from which the quote earlier was taken, Smith also wrote: 'People of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices/ It is a warning to public authorities everywhere that...

...Fix Prices? Andrew R. Dick* I. INTRODUCTION Adam Smith's famous remark that 'People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy to raise prices', summarizes a widely-held belief that firms have a natural incentive to collude. In...

...ubiquity and dangers of restraints of trade. "People of the same trade seldom meet together," he wrote, "even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."7 Price fixing, pooling, and other similar restraints...

...remark, Smith argues that firms will seek to restrict competition if they can: 'People of the same trade seldom meet together, even for merriment and diversion,...the publick, or in some contrivance to raise prices' (Smith 1976/1776: 145). Where one supplier captures a market (monopoly), or where a few suppliers succeed...

...Faden and TL Beauchamp, A History and Theory of Informed Consent (1986) 63. "People of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." Adam Smith, An Inquiry into the Nature and Causes...

...environment. Issue 4 Imperfect Competition Is Big Business a Threat or a Boon? People of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. — Adam Smith, 1776 Every contract, combination in...

...the enemies of capitalism and the efficient working of markets. Smith noted: People of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.2 Zealand and Australia, the Royal Colleges are bulwarks,...

...Smith's famous observation, made in his 1776 book The Wealth of Nations, that "people of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." What would he have thought about MasterCard and Visa?...

...cooperation among economic agents is clearly expressed by Adam Smith, who observed 'people of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices' (1976, 144). This theme is an integral part of the...

...gainer, the work of all artificers coming in this way much cheaper to market. People of the same trade seldom meet together, even for merriment and diversion,...the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. The pretence that corporations are necessary for the...