06/13/08
10 - The division of labor is limited by the extension of the market
Categories: Book 1 - Of the causes of improvement in the productive powers of labor., Cap. 3 - That the division of labor is limited to the extent of the market*****THIS CARTOON IS PART OF A SERIES. *******Click here to start from cartoon No1.*******
The division of labor is limited by the extension of the market. Some industries can only be carried in a great town. The Pin Maker starts spreading the news that he is going to New York "a la" Liza Minnelli to start selling his pins there.
Adam Smith, as a narrator says that even such a trade of a nailer in the remote highlands of Scotland is impossible, since such a workman at a rate of 1,000 nails a day will make 300,000 nails in the year, but it would be impossible to dispose one day's of his work in the whole year.
The Pin Maker, suddenly is a Nail Maker and he tells the Highlander who only needs 3 nails that his minimum order is 250 nails.
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