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Division of labor (view source)
Revision as of 18:05, September 16, 2024
, 18:05, September 16, 2024no edit summary
'''Division of [[labor]]''' is the specialization of tasks to improve [[efficiency|efficiencies]] and increase overall [[output]].
'''Division of [[labor]]''' is the specialization of tasks to improve [[efficiency|efficiencies]] and increase overall output.
* A country can adopt laws and institutions that make it possible for the division of labor to grow and flourish, as the United States did in the late eighteenth century. Or it can adopt laws and institutions that prevent the division of labor from growing and flourishing, as is the case in most of the world today, and as was the case everywhere for most of history. [http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm]
* A country can adopt laws and institutions that make it possible for the division of labor to grow and flourish, as the United States did in the late eighteenth century. Or it can adopt laws and institutions that prevent the division of labor from growing and flourishing, as is the case in most of the world today, and as was the case everywhere for most of history. [http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm]