The people, by this means, are not imposed on either by the merchant or mechanic: if the merchant demands too much profit on imported shoes, they buy of the shoe-maker; and if he asks too high a price, they take them of the merchant: thus the two professions are checks on each other.
Benjamin Franklin: “The people, by this means, are not imposed on either by the merchant or mechanic: if the merchant demands too much…”
Editor's note · Context
Franklin describes a market dynamic where merchants and shoemakers regulate each other's prices, benefiting consumers.
Share
More from Benjamin Franklin
It is with a melancholy regret I think of his death; but to death we are all bound by the irreversible order of nature, and in looking forward to it, there is comfort in being able to reflect--that we have not lived in vain, and that all…
Few of their Children in the Country learn English . . . The Signs in our Streets have Inscriptions in both Languages, and in some places only [their language] . . . In short, unless the Stream of their Importation could be turned…
But if I were in his place, and not otherwise instructed, I should be apt to say, Take your own time, gentlemen.
They have no profitable appointments, but a mere payment of daily wages, such as are scarcely equivalent to their expences, so that having no chance for great places and enormous salaries or pensions, as in some countries, there is no…





