
Adam Smith | Self-Interest, Division of Labor, and the Invisible Hand (Republish)
15-Minute History
Self-Interest and the Division of Labor
This chapter explores the principles of self-interest and the division of labor, illustrating their impact on personal career decisions and community welfare. The speakers emphasize the balance between economic efficiency and individual skill development, alongside challenges posed by automation and dependency on welfare systems. Through discussions on historical economic theories and real-world examples, the chapter highlights the complexities of free markets and individual decision-making in various societal contexts.
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