Home >  Term: division of labor
division of labor

People are better off specializing than trying to be jacks of all trades and ending up masters of none. The logic of dividing the workforce into different crafts and professions is the same as that underpinning the case for free trade: everybody benefits from doing those things in which they have a comparative advantage and using income from doing so to meet their other needs.

0 0

Creator

  • summer.l
  •  (Silver) 607 points
  • 100% positive feedback
© 2024 CSOFT International, Ltd.