“This great increase of the quantity of work which, in consequence of the division of labour, the same number of people are capable of performing, is owing to three different circumstances; first, to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and lastly, to the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many.”
Quote by Adam Smith
Work
The Wealth of Nations: the Great Master
This book is a landmark treatise in economic thought, originally published in the late 18th century. It systematically explores how nations generate and accumulate wealth through productive labor, free markets, and trade. The author introduces key concepts such as the invisible hand, specialization, and the role of self-interest in driving economic prosperity. The work critiques mercantilist policies and advocates for limited government intervention, laying the groundwork for modern capitalist theory. As a classic text, it remains influential in discussions of political economy and public policy. more
Author
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