...COMPETITION LAW AN EFFECTIVE TOOL TO PROTECT CONSUMERS? When we listen to Adam Smith then it seems that: 'Consumption is the sole end and purpose of all production;...far as it may be necessary for promoting that of the consumer.'51 However, the question is more complex and requires certain problematic issues to be revealed....

...start and end with consumers. Consumption is, according to Adam Smith, the sole end of all production. The interest of the producer ought to be attended...may be necessary for promoting that of the consumer. Policies to strengthen the functioning of the market, however, concern the consumer only indirectly...

...Issue 2 Consumer Welfare Is It Necessary to Protect the Consumer? Consumption is the sole end and the purpose of all production; and the interest of the producer ought to be attended to, only in so far as it may be necessary for promoting that of the consumer. — Adam Smith, 1 776 The upshot...

...guilty pleasure, but I really enjoyed it!' How many Scotts are out there? 15 The Independent Producers 'Consumption is the sole end and purpose of all production;...be necessary for promoting that of the consumer.' —Adam Smith, 1723-1790 WHILE THE ABC WAS busy taking the public broadcaster down the path of the...

...179l6), herausgegeben von E. Cannan, New York: Modern Library, 1937, Buch IV, Kapitel VIII, S. 625. „Consumption is the sole end and purpose of all...may be necessary for promoting that of the consumer. The maxim is so perfectly self -evident, that it would be absurd to attempt to prove it. But in the...

...because consumption is supposed to he the basic rationale for economic activity. As Adam Smith said. "Consumption is the sole end and purpose of all production:...interest of the producer ought to be attended to only as far as it is necessary lor promoting that of the consumer."1 Production is the means: consumption...

...Pareto-optimaliteit geeft uitdrukking aan de uitspraak van Adam Smith in de derde druk van zijn Wealth of Nations, "Consumption is the sole end and purpose of all production; and the intent of the producer ought to be attended to, only so far as it may be necessary for promoting that...

...prices. Monopoly of one kind or another, indeed, seems to be the sole engine of the mercantile system. Consumption is the sole end and purpose of all production;...may be necessary for promoting that of the consumer. ... But in the mercantile system, the interest of the consumer is almost constantly sacrificed to that...

...than we ourselves can make it, better buy it of them."9 This is the core of Smith's economic theory: "Consumption is the sole end and purpose of all production;...may be necessary for promoting that of the consumer. The problem is that the system of mercantilism "seems to consider production, and not consumption,...

...participated in the market economy.19 Market production was always to be driven by consumer demand. For Smith, "consumption is the sole end and purpose of all production;...far as it may be necessary for promoting that of the consumer."20 This belief that the satisfaction of consumer demand was the sole goal of production was...