“The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed. The number of its productive labourers, it is evident, can never be much increased, but in consequence of an increase of capital, or of the funds destined for maintaining them. The productive powers of the same number of labourers cannot be increased, but in consequence either of some addition and improvement to those machines and instruments which facilitate and abridge labour, or of more proper division and distribution of employment. In either case, an additional capital is almost always required. It is by means of an additional capital only, that the undertaker of any work can either provide his workmen with better machinery, or make a more proper distribution of employment among them. When the work to be done consists of a number of parts, to keep every man constantly employed in one way, requires a much greater capital than where every man is occasionally employed in every different part of the work.” (The Wealth of Nations, Book 2, chapter 3)
Discuss adam smith quote and how you would explain it?
"When I divide my butt cheeks i lay massive farts. If the butt cheeks are not separated then fart is not that powerful. Therefore, division of labor works!"
>>1798295
Commie detected
>>1798269
it's very straight forward, I'd explain it more or less the same way.
# of Laborers x Labor Output. These are the variables, labor output varying by technology and organization
>economics
nice spook
The number of labourers can scarcely be increased to a high degree as this either requires training (which requires capital, capital which could only be gained via high productivity with which you need more workers, aka paradoxical) and requires an infinite supply of humans.
The production power of those labourers employed is limited.
Thus; in order to increase productivity, one requires capital (money) in order to fund better machines and tools which would allow a greater efficiency among workers in order to produce more goods/services allowing cheaper prices, better competition and more profit as supplies increase.
This increased profit means more capital (money) to pay for more labourers, buy better machines and increase the quality of work, yielding more profits.
>>1798330
So we need more immigrants
Ricardo was better
economics is secondary to more important things like kultur