Re: Adam Smith

[FICHTENBAUM@xxxxxxxxxxxxxxxxx]

"The interest of the dealer, however, in any particular branch of
trade or manufactures, is always in som respects different from, and
even opposite to, that of the public... To narrow the competition is
always the interest of dealers... But to narrow the competition must
always be against ..[the interests of the public], and can serve only
to enable the dealers, by raising their profits above what they naturally
would be, to levy, for their own benefit, an absurd tax upon the rest
of their fellow citizens."  p. 250  as quoted in E.K.Hunt.

Rudy


  =====================================================================
  + Rudy Fichtenbaum        +  Internet Fichtenbaum@xxxxxxxxxxxxxxxxx +
  + Department of Economics +  Bitnet   Fichtenbaum@xxxxxxxxxx        +
  + Wright State University +  Telephone 513-873-3070/3071            +
  + Dayton, OH 45435        +                                         +
  +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
  *                                                 * *               *
  *   "There is no royal road to science,         *  |  *             *
  *   and only those who do not                  *   |   *            *
  *   dread the fatiguing climb of its           *  /|\  *            *
  *   steep paths have a chance                  * / | \ *            *
  *   of gaining its luminous summits."           *  |   *            *
  *                                                 * *               *
  *                           Karl Marx                               *
  =====================================================================