The Wealth of Nations

What is the organization innovation of the pin factory and what, according to smith, is it sigificance for socity?

im so confused hELLP

Asked by
Last updated by jill d #170087
Answers 1
Add Yours

The pin factory illustrates the division of labor. The division of labor is a self-reinforcing phenomenon that spreads opulence to even the most poor. Because it enjoys such tremendous efficiencies, the division of labor produces a surplus that gives a greater amount of people access to products that would otherwise be unaffordable.