For all those that
wish to rely on market mechanisms, recall that markets are made by people.
And people often act in their own self interest. Adam Smith saw this back
when he wrote the Wealth of Nations.
"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."
The Wealth of Nations
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