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Division Of Labor

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Division Of Labor

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The Wealth of Nations (selected chapters)

Selected chapters of Adam Smith's 1776 inquiry connect specialization, exchange, market extent, prices, wages, profit, public institutions, and the dangers of monopoly. The familiar pin factory is only the opening: Smith also sees specialization deforming workers, merchants conspiring, and government responsible for justice, infrastructure, education, and other foundations markets do not reliably supply.