What is the “division of labor” and what example does Smith use to illustrate this idea?...

What is the “division of labor” and what example does Smith use to illustrate this idea? What limits the division of labor? Can you describe the process of technological innovation and its social consequences according to Marx?

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Expert Solution

Concept of division of labor was popularised by Adam Smith. According to Adam, division of labor implies that worker is specialised in particular task of whole process. it increases the productivity of labor. Thus, output will increase. Adam Smith explained division of labor with example of pin making factory.

Following are limitations of division of labor:

There must be availability of labor, if there is shortage of labor, then division of labor can not be practised.
Size of market must be high enough to practise division of labor.
All work can not be divided into small tasks, so here division of labor is not possible,

According to Max, the innovation is introduced by the capitalist class, it causes fall in employments and exploitation of labor class increases manifold. Thus, such innovation is aimed at increasing profits. So there will not be equitable distribution of income. it creates more wedge between have and have nots.

Rahul Sunny answered 8 months ago

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