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Home Readers Comments Reader’s Comment: Adam Smith would not approve of Davos

Reader’s Comment: Adam Smith would not approve of Davos

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In response to Andrew Cadman: The Davos elite has its head in the clouds, AKM wrote:

I have always thought that the following much-quoted paragraph from Adam Smith’s Wealth of Nation also applies to Politicians and Civil Servants:

“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. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary.”

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