The proposal of any new law or regulation of commerce which comes from this order [businessmen], ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.The Wealth of Nations (1776), Book I, Chapter XI, Part III, Conclusion of the Chapter, pg.292
Saturday, January 28, 2012
Adam Smith on Lobbyists
I find this part of his work rarely quoted ...