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.
Adam Smith, Wealth of Nations
Sixty-four per cent said the city's business environment would improve after implementation of a competition law, compared with 20 per cent who believed the situation would remain the same, and 6 per cent who expected a deterioration.
Post, July 14
Why do I always have to be in the minority and the very smallest one, too? I'm all in favour of fostering more competition in the marketplace but I'm not convinced that a competition law will do it and I can see ways in which such a law could make things worse.
The big problem is exactly what Adam Smith defined it to be - 'It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.'
