1.2 — The Smithean View of Trade: Divison of Labor — Class Content
Overview
Today we look at Adam Smith’s understanding of what is the cause of the wealth of nations: the division of labor.
Readings
Recommended Reading
- Smith (1776), Wealth of Nations, Book I, Chs. 1-3
- Safner (2023), “It All Beings with the Division of Labor: Meditations on what should be the central insight of economics”
- Safner (2023), “Division of Labor vs. the Invisible Hand: Two divergent trajectories of economic thought from two of its foundations”
- Munger (2007), “I’ll Stick With These: Some Sharp Observations on the Division of Labor”
- Bauer (2000), “From Subsistence to Exchange”
- TED Talk: Thomas Thwaites: How I Built a Toaster From Scratch”
- YouTube: How to Make a $1500 Sandwich in Only 6 Months”
Slides
Below, you can find the slides in two formats. Clicking the image will bring you to the html version of the slides in a new tab. The lower button will allow you to download a PDF version of the slides.
Tip
You can type h to see a special list of viewing options, and type o for an outline view of all the slides.
I suggest printing the slides beforehand and using them to take additional notes in class (not everything is in the slides)!
