WILL GIVE MEDAL
In Wealth of Nations, which economic practice does Adam Smith disparage with this quote?
a. colonial exports
b. free competition
c. government subsidies
d. regulated markets

The bounty to the white-herring fishery is a tonnage bounty; and is proportioned to the burden of the ship, not to her diligence or success in the fishery; and it has, I am afraid, been too common for vessels to fit out for the sole purpose of catching, not the fish, but the bounty. (Source: The Wealth Of Nations, Book IV, Chapter V, p. 520, para 32.)

Question

WILL GIVE MEDAL
In Wealth of Nations, which economic practice does Adam Smith disparage with this quote?
a. colonial exports
b. free competition
c. government subsidies
d. regulated markets

The bounty to the white-herring fishery is a tonnage bounty; and is proportioned to the burden of the ship, not to her diligence or success in the fishery; and it has, I am afraid, been too common for vessels to fit out for the sole purpose of catching, not the fish, but the bounty. (Source: The Wealth Of Nations, Book IV, Chapter V, p. 520, para 32.)