The Vicarious Consumption of Goods

In 1899 Thorstein Veblen wrote “The Theory of the Leisure Class” on his observation of division of labor; specifically the effect capitalism had on the upper/leisure class.  As a child of immigrant parents being raised in Wisconsin, Veblen had trouble adjusting and felt isolated from the American way.  This detached upbringing seems to have an impact on the way he describes the leisure class, as he speaks as though he is on the outside of society looking in.  … Read the rest here

Fordism Before Fordism Was Cool

The Industrial Revolution was an important step for many countries during the late 18th century to 19th century, as it changed the way products were manufactured to what is now seen today.  In Adam Smith’s first chapter of, An Inquiry into the Nature and Causes of the Wealth of Nations, the division of labor is seen as a necessity for maximizing the efficiency of creating manufactured goods.  The way Smith describes the importance of the division of labor relates back to Hoffmann in, “European Modernity and Soviet Socialism”, as both emphasize the categorization of the branches of labor and making humans more efficient during their livelihood.  Read the rest here

Division of Wealth and Labor

The distributed wealth among nations is never going to be the same and there are many factors that go into that wealth. One factor that economist and philosopher Adam Smith talks in An Inquiry into the Nature and Cause of Wealth of Nation about is the division of labor. Division of Labor is characterized as “Narrow specialization of tasks within a production process so that each worker can become a specialist in doing one thing”.[i] This concept of division of labor changed the way of thinking in terms of production due to the fact that manufacturing could be done all year, unlike agriculture.… Read the rest here

Manifesto of the Communist Party

Of the many thought provoking and avant-garde ideas contained in Karl Marx and Friedrich Engels’ Manifesto of the Communist Party, the core concept is explicitly stated in the opening line of the document where they wrote, “The history of all hitherto existing society is the history of class struggle.” (126) This concept of class antagonisms is alluded to throughout several portions of the text. They believed that the proletariat would ultimately rise up and unify, dissolving all class distinctions to create a society conducted by a tier-less working class.… Read the rest here

Division of Labor

In An Inquiry into the Nature and Causes of the Wealth of Nations, the author is pro Division of Labor. The author begins by giving a background of each chapter and reciting the powers of labor and produce. Throughout this excerpt, he goes into detail of the benefits of Division of Labor. One of these benefits include working together as a team, this allows people to help one another and complete more items than if working alone.… Read the rest here

Essay on Population and The Wealth go Nations

Essay on Population, 1798

Author: Thomas Mathus. Malthus was an English cleric and scholar, and was very influential in the fields of demography and political economics. He did not believe society was perfectible, and wrote in opposition to many Enlightened thinkers of his era.

Context-Famine was a fact of everyday life in England, even as agriculture was making major advances in efficiency and increased productions. However, the population continued to rise, and production of food was unable to meet demands.… Read the rest here

Wealth and Population

Adam Smith primarily focuses the relationship individuals have with one another in a capitalist society, which he describes within An Inquiry into the Nature and Causes of the Wealth of Nations.  Adam Smith begins his inquiry with a look into the division of labor among a population.  Smith determines that the individuals are most productive when they do what they are best at, through their own discovery of his/her own talents and abilities.  With his pin-maker scenario, Smith’s provides an easy to understand example for his ideal working conditions.  … Read the rest here

The Wealth of Nations and the Division of Labor

Adam Smith writes about the division of labor and its essential role in industry and innovation. He uses the example of a pin-maker with little experience, who may by himself manufacture only one pin in a day. There are as many as eighteen distinct steps that go into making a single pin; these are tasks that if all executed by one man take much longer to master and much longer to carry out. If these eighteen tasks are delegated to different pairs of hands however, each pair carrying out only two or three of these eighteen steps, the production of pins will skyrocket.… Read the rest here