Adam Smith
Discover how the division of labor, exchange, and self-interest can expand a nation's wealth, shifting the measure of prosperity from hoarded gold to the living standards of its citizens.
Dividing production into specialized, repetitive tasks drastically increases labor productivity and spurs technological innovation.
The natural human propensity to barter and trade helps individuals pursuing their own interest organize a highly efficient economy.
The real value of any commodity is derived from the labor required to produce or acquire it, while its market price tends to gravitate toward the combined cost of wages, rent, and profit.