File Name: relationship between specialisation and division of labour .zip
- What Are the Economic Impacts of Specialization?
- The Division of Labor, Inequality and Growth
- 16.3B: Importance of Division of Labor
- How the Specialization of Labor Can Lead to Increased Productivity
The division of labor is the separation of tasks in any economic system or organisation so that participants may specialize specialization. Individuals, organisations, and nations are endowed with or acquire specialized capabilities and either form combinations or trade to take advantage of the capabilities of others in addition to their own.
Specialization of labor is most often known as the division of labor and refers to a process in business in which large tasks are divided into smaller tasks, and different employees or different groups of employees complete those tasks. Specialization is highly desirable in large-scale operations such as car manufacturing because it allows workers with specific skill sets to efficiently perform a specific task. However, specialization is also beneficial for small-business owners who are interested in increasing productivity.
What Are the Economic Impacts of Specialization?
Though the scientific understanding of the importance of division of labor is comparatively recent, the effects can be seen in most of human history. It would seem that exchange can arise only from differences in taste or circumstance. But division of labor implies that this is not true. In fact, even a society of perfect clones would develop exchange, because specialization alone is enough to reward advances such as currency, accounting, and other features of market economies. Michael Munger takes a deeper dive into the history and significance of the division of labor in this three-part series at AdamSmithWorks :. Division of labor is one of the most important concepts in social science, not just for economics but for the study of societies in general.
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Division of labor is the specialization of cooperative labor in specific, circumscribed tasks and roles. In a division of labor, the production process is broken down into a sequence of stages, and workers are assigned to particular stages. Cooperative labor is specialized into specific, circumscribed tasks, which individuals in specific roles accomplish. Historically, as societies have developed more and more complex divisions of labors, the economies of those societies has grown proportionately, both in trade output and living standards. A complex division of labor appears to be strongly correlated with the rise of capitalism, as well as the rise of complex industrial production.
The Division of Labor, Inequality and Growth
Many authors had written on economics in the centuries before Smith, but he was the first to address the subject in a comprehensive way. In the first chapter, Smith introduces the division of labor , which means that the way a good or service is produced is divided into a number of tasks that are performed by different workers, instead of all the tasks being done by the same person. To illustrate the division of labor, Smith counted how many tasks went into making a pin: drawing out a piece of wire, cutting it to the right length, straightening it, putting a head on one end and a point on the other, and packaging pins for sale, to name just a few. Smith counted 18 distinct tasks that were often done by different people—all for a pin, believe it or not! Figure 3. Workers on an assembly line are an example of the divisions of labor.
16.3B: Importance of Division of Labor
We present a model that links the division of labor and economic growth with the division of wealth in society. When capital market imperfections restrict the access of poor households to capital, the division of wealth affects individual incentives to invest in specialization. In turn, the division of labor determines the dynamics of the wealth distribution. A highly concentrated distribution of wealth leads to a low degree of specialization, low productivity, and low wages.
Modern economies, whether capitalistic or socialistic, whether fully developed or not, are characterized by specialization of the means of production and by exchange of goods and services. The earliest and most common form of specialization is that of labor. Interrelated with it, particularly in modern developed economies, is specialization of machines.
How the Specialization of Labor Can Lead to Increased Productivity
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