Division of Labor (Lyrics Only)

Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Division of Labor (Lyrics Only)
Grade Levels
Product Rating
Product Q & A
File Type

PDF (Acrobat) Document File

Be sure that you have an application to open this file type before downloading and/or purchasing.

327 KB|2 pages
Share
Product Description
This track off of "HipHoponomics Vol. 2: The Man, the Myth, Adam Smith" unpacks Smith’s key concept of the Division of Labor. In Book I, Ch. III of The Wealth of Nations, Smith wrote, “As it is the power of exchanging that gives occasion to the division of labour, so the extent of this division must always be limited by the extent of that power, or, in other words, by the extent of the market.” Duke University economist Mike Munger further expands this point, as he puts it, “As the number of potential customers you can reach expands, and the costs of shipping and handling fall, factories become fewer and larger. There is far more capital investment in these factories, but fewer workers. And output increases ten-fold, a hundred-fold, a billion-fold.” In this track, I sought to convey that as free trade is able to expand, so then the Division of Labor is broken down into smaller and smaller tasks, with the result being dramatically increased productivity.
Total Pages
2 pages
Answer Key
N/A
Teaching Duration
45 minutes
Report this Resource
Loading...
$3.00
Digital Download
More products from Greg Caskey and HipHoponomics
Product Thumbnail
$0.00
Product Thumbnail
$0.00
Product Thumbnail
$0.00
Product Thumbnail
$0.00
Product Thumbnail
$0.00
$3.00
Digital Download
Teachers Pay Teachers

Teachers Pay Teachers is an online marketplace where teachers buy and sell original educational materials.

Learn More

Keep in Touch!

Sign up