Essay on Why Is It Important?

2626 Words Jun 11th, 2015 11 Pages

3. “This division of labor, from which so many advantages are derived, is not originally the effect of any human wisdom…it is the necessary consequence of a certain propensity in human nature…to truck, barter and exchange one thing for another.”

Adam Smith (pg.21) -

In this quote, Adam Smith introduces the idea that although the specialization of skills in division of labor leads to efficiency when it comes to production, this is bad for the people because they lose other skills. People are so focused on their specialty that their other skills are not improved upon and start to deteriorate so they become good for one thing, their specialty. However, Smith writes that productivity increases if people are not involved in every aspect of production, but are specialized in one. He states that although this is the case, it is necessary in order to trade because people’s natural state is to trade those items which they have made. People naturally desire and take pride in items they make themselves and therefore have the natural desire to make an item, set the trading price of the item, and ultimately exchange it.

4. “…the gulf between how one should live and how one does live is so wide that a man who neglects what is actually done for what should be done moves towards self-destruction rather than self-preservation. The fact is that a man who wants to act virtuously in every way necessarily comes to grief among so many who are not virtuous.”…

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