"People of the same trade seldom meet together even for merriment and diversion, but the conversation ends in a conspiracy against the public or some contrivance to raise prices." - Adam SmithThat quote is usually applied to corporations - but exactly how does it not apply to unions?
> That quote is usually applied to corporations - but exactly how does it not apply to unions?
I should have thought that self-evident. It applies to unions as much if not more than it does to corporations.
After all, what is a union but an incorporation of workers contracted to an entire industry? It is by very nature a monopoly if it can get its grubby claws into the industry deep enough.