Adam Smith's Wealth of Nations This first reading of Adam Smith's, Wealth of Nations, examines the labor force, ( in this case, of Europe and England ) how it functions to improve abundance and how that abundance is distributed throughout society. The amount of annual abundance in a country will depend on two circumstances. First, by the skill, dexterity, and judgment in applying labor. Second, by the number of those employed in useful labor versus those who are not. By far, the greatest improvement in production was the division of labor, resulting in a substantial increase in the quantity of work based on three criteria. First, dexterity of workmen. Second, saving of time. Third, the invention of machines. Smith maintains that division of labor was not the product ....

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Number Of Words: 416

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