Bonus Quotation of the Day…

by Don Boudreaux on March 2, 2016

in Adam Smith, Competition

… is from page 420 of Book III, Chapter 4 of the 1981 Liberty Fund edition of Adam Smith’s 1776 An Inquiry Into the Nature and Causes of the Wealth of Nations:

Each tradesman or artificer derives his subsistence from the employment, not of one, but of a hundred or a thousand different customers.  Though in some measure obliged to them all, therefore, he is not absolutely dependent upon any one of them.


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