The Wealth of Nations

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The Wealth of Nations
Chapter I – Of the Division of Labour

Division of Labour is thought by Smith to increases Wealth of Nations. Increase in skill, dexterity and productivity of labor is most affected by DOL. The idea of the division of labour relates primarily to the specialization of the labor force, basically the breaking down of large jobs into many tiny components. Under this system each worker becomes an expert in one isolated area of production, thus increasing his efficiency. The fact that laborers do not have to switch tasks during the day further saves time and money. By allowing machines to step in to help with the production, the operation will be simpler and make into routine. Machines make production process speeds up its level and produce goods faster.

The audience that the author was writing for were capitalists. This is supported by the writer's suggestions in the article. Adam Smith suggests that manufactures should divide its labor force into obvious groups. Each of them should do different operation instead of having a single worker doing all of the operations by himself.
The main focus of Adam Smith's The Wealth of Nations lies in the concept of economic growth. The only factor that he mentions that effects the growth is the supply of labor. However, in modern economics, other factors such as land, capital, technology, knowledge, and etc. also influence the productivity of the labor, therefore, the wealth of the nations. For example, with the closed-circuit television (CCTV), which is the use of video cameras to transmit a signal to monitors, the laziness of workers will be reduce because they will be monitor all the time. Thus, workers will become more productive during their work hours.

I believe that every worker should have a wide range of education. Two main benefits of this is that worker find…...

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