Episode summary: Send us a text Adam Smith’s pin factory example from “The Wealth of Nations” demonstrates how dividing labor into specialized tasks dramatically increases productivity. Ten workers specializing in different aspects of pin-making could produce 48,000 pins daily, while individually they might struggle to make even 20 pins each—a productivity increase of at least 240 times. This division of labor, Smith argued, is limited by the extent of the market. Transaction costs—expenses associated with e…
Webmentions
Webmentions allow conversations across the web, based on a web standard. They are a powerful building block for the decentralized social web.
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Webmentions
Webmentions
Webmentions allow conversations across the web, based on a web standard. They are a powerful building block for the decentralized social web.
If you write something on your own site that links to this post, you can send me a Webmention by putting your post's URL in here:
Webmentions