My own personal blog. Newham Council Deputy Mayor, Cabinet member for Housing Services & Vice Chair of Local authority Pension Fund Forum. Councillor for West Ham ward, UNISON Branch Chair, Regional Council Officer & NEC member, Centre left and proud member of Labour movement family. No trolls please.
Saturday, October 12, 2013
Royal Mail Sell Off: Rip Off
Quote from the Father of Modern Economics, Adam Smith "A monopoly granted either to an individual or to a trading company has
the same effect as a secret in trade or manufactures. The monopolists,
by keeping the market constantly understocked, by never fully supplying
the effectual demand, sell their commodities much above the natural
price, and raise their emoluments, whether they consist in wages or
profit, greatly above their natural rate."