Disadvantages Of Adam Smith's Division Of Labour Theory
Introduction: - Adam smith was born in 16th June, 1723 in Kirkcaldy, Scotland. He got education from the Glasgow University and Oxford University. He is known for the two classical works firstly, the theory of moral sentiments (1759) and second, the inquiry into the nature and cause of the wealth of nature (1776). He is known as the father of economics. He was the professor in the Glasgow University as a first of logic in 1751 and then moral philosophy in 1759. He worked there for the more than ten years. He travels on the continent more than the two years. At that time in France he came into the contact of the some Physiocrats of that time including Quesnay and Turgot. Adam Smith appointed as a commissioner of custom in Edinburg. He died 17th July 1790. Adam Smith …show more content…
If the demand is high so they increase the production and the division of labour helpful that time. Because that time they make more production so division of labour is play their role in the industry. The scope for the division of labour is depends on the nature of goods. So it can’t be helpful for the agriculture it helps in the industrial sector.
Division of Labour theory has the following advantages: - It has mainly four advantages of the division of labour theory.
1. Increased outputs: - It is helpful in the increasing output of the industries. We know that the work should be making easier with the more hands. Adam Smith gave the example of the pin maker industries in the wealth of nation. If one person make the pin so they make twenty pins something in a day but all people are divided the work so they can make 4800 pin per person.
2. Increase in the skill of workers : - If person do work in particular area so they got proper idea and developed their skill in particular field. They took perfection on the particular topic and particular area.
3. Saving in time:
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