- The division of labor is the greatest improvement to production.
- Three things contribute to increased work, a consequence of the division of labor: first, each workman has improved dexterity because he only has to perform a single task, second, the saving a time, and finally, the invention of machines that hasten the labor.
- Thanks to the division of labor, smaller numbers of workers can work faster and produce much more than before.
The Wealth of Nations:
- An individual seeking his own benefit will invest his capital in domestic industry instead of foreign industry. By doing this he not only helps himself, but also his homeland.
- No person can assume the responsibility of directing private people in their own capital, he could not be trusted.
- A system can neither promote itself and gain excess funds, or restrict itself and lose essential funds. If it were to do so, it would not grow, only slow down and not benefit anyone.
- The role of the sovereign is not to interfere with investments, but only to carry out three duties: first, to protect society from violence and invading countries, second, to protect individual members of the society from injustice caused by other members, and thirdly, to erect and maintain certain public works.
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