Tag Archives: Adam Smith

Division of Labor and Market Size

I remember when I first read Smith’s account of the size of markets and how it relates to the cost of transportation. Zzzzzzzz Yet, every time I revisit that section, it becomes more interesting. For instance, Jared Diamond in his … Continue reading

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Adam Smith

“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never … Continue reading

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