Adam Smith selections from the wealth of nations

What is division of labor

labor is divided which increases productivity,

Where is divison of labor derived from?

Divison of labor is not derived from any human wisdom. Division of labor is the consequence of a propensity in human nature to prioritize their own self interest

What gives occasion too divison of labor

by treaty, barter, and purchase which we obtain from one another a greater part of mutual goods which we stand in. need of

what determines the rich or poorness of man

man is rich or poor according to the degree in which he can afford to enjoy the necessaries, convinces, and amusements of human life

what happens when divison of labor takes place

a very small part of products can be provided by ones own labor, the greater part must be derived from derived from the labor of other people

what determines how rich or poor someone is?

how much labor one is able to command or which he can afford to purchase

what is labor

labor is the real measure of exchangeable value of all commodities

what does produce of labor constitute

product of labor constitutes the natural recompense of wages and labor. The produce of labor belongs to the laborer

what is the original state of things

the original stater of things allowed for the laborer to enjoy the whole produce of his own labor

when did the original state of things end

it ended with the introduction of the appropriation of land and stocks. A landlords rent is the first deduction from the produce of labor

what is every individual doing as it relates to employment

every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage which leads him to prefer that employment which is advantageous to society. For example in preferring the support of domestic to that of foreign industry he intends his own securitw

what are men formed by

men are formed by their ordinary employments. A man whose whole life spent performing simple operations and will cause man to become stupid and ignorant

what is divison of labor

divison of labor is the breaking down of complex production into simple operations among many individuals by affect increasing production.