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Title: Student

Essay Details:

Subject: English

Author: William D

Date: March 31, 2015

Level: University

Grade: A

Length: 9 / 2469

Essay text:

In the first part of The Wealth of Nations, Smith explains in great detail the three main effects of the division of labor, which are specialization, the saving of time that is required to go from one process to another, and the invention and utilization of machines which make the job easier and allow a greater output. Smith explains how the division of labor has been a slow process that has been conceived in an organized human society. The division of labor described by Adam Smith in the Wealth of Nations can have two different interpretations: one “market-oriented” (Vincent-Lancrin, 2003) or social division of labor, and the other “organisation-oriented” (Vincent-Lancrin, 2003) or organizational division of labor...

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