Adam Smith's said 'People of the same trade seldom meet together, even for merriment and diversion, … but their conversation often ends in a conspiracy against the public.' What sort of behaviour was he referring to?

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Quizplus · Accepted Answer

Adam Smith was referring to collusion, which is when businesses or individuals in the same industry conspire to manipulate prices, restrict competition, or engage in other anti-competitive behavior that harms the public.

Adam Smith's Said 'People of the Same Trade Seldom Meet