Is science like manufacturing or like farming?
It is obvious why specialization improves productivity for manufactured goods (even if people seem to systematically underestimate just...
Why we under-appreciate the division of labor
Economists have long known that a key source of society's wealth is the division of labor. Robinson Crusoe was marvelously...
Smith's *The Wealth of Nations*: Introductory thoughts
The first book I am blogging is Adam Smith's masterpiece An Inquiry into the Nature and Causes of the Wealth of Nations (1776). Although...