Division of labour
Videos
The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise. Individuals, organisations, and nations are endowed with, or acquire,
Visiting a Nail Factory by Léonard Defrance (18th century)
Sir William Petty
Fable of the Bees by Bernard Mandeville
Facsimile of the first page of du Monceau's introduction to Art de l'Épinglier, with "division de ce travail" highlighted
Economics
Videos
Economics is a social science that studies the production, distribution, and consumption of goods and services.
Euro coins
A 1638 painting of a French seaport during the heyday of mercantilism
The publication of Adam Smith's The Wealth of Nations in 1776 is considered to be the first formalisation of economic thought.
The Marxist critique of political economy comes from the work of German philosopher Karl Marx.