1 janv. 1723 - Smith’s ideas shows a reflection of the beginning of the Industrial Revolution, and he states that free-market economies are the most productive and beneficial to the societies. An economic system based on individual self-interest is led by an “invisible hand,” which would achieve the greatest good for all. Smith suggests that men can be more efficient when labour is divided into specialized tasks and he named it Division of Labour.
Ajouté au bande de temps:
Date:
1 janv. 1723
Maintenaint
~ Il y a 302 ans