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Leaving assignments to write a sermon Alan watts ~ now is the time to write a biography

How to make that division of labor widely extended? Smith considers as the most important the method described by it in the story about factory of pins. A key to everything - cars. Division of labor - and, therefore, its productivity - increases when the car participates in work. Thus, each extending firm, naturally, has to enter more and more cars to improve productivity of the workers. Thereby the market system becomes huge force for accumulation of the capital, generally in the form of machine park and the equipment.

But how was to increase sale during an era when advertizing how we now represent it, did not exist yet? Smith answered: to improve productivity. To increase labor productivity. And the way to it was clear: to improve division of labor.

The name of the great Scot Adam Smith is equally honored by all modern scientists-economists however they did not adhere to various points of view. Along with Karl Marx and John Maynard Keynes's names, the name of this outstanding person causes increase of a blood pressure in any who has though any relation to economic science as to works of these three great economists address for understanding main objectives of economy as sciences.

He was the only child in rather poor family of the customs official who died only some months prior to the birth of the son. Brought up by mother who devoted it all the life, Adam in 14 years entered University of Glasgow, having sedately begun the road to comprehension of the world.

Thus, production of pots will increase, and frying pans will be reduced that was wanted by public. Pressure of the market as if the Invisible Hand (using magnificent expression Smith directs egoistical actions of people on a socially useful track. So the system of the competition translates egoistical behavior to socially useful result. An invisible Hand - these words characterize all process - holds society on a right way, providing it with production of goods and services necessary to society.

And nevertheless Smith made out two main attributes of not completely born economic system. First, society of the people competing, looking for profits can provide material supplies via the mechanism of the self-regulating market, and, secondly, such society, seeking for building of the capital, increases the efficiency and wealth.

Certainly, Smith's concept did not become the last word of science of economy; as we already know, the market mechanism not always works successfully, and those two economists who share a rank of the greatest economic thinkers with Adam Smith, Karl Marx and John Maynard Keynes, show that process of growth has serious shortcomings. But enlightenment remains enlightenment. Now, in two hundred years, surprises not how Smith was mistaken, but how deeply and clearly he saw. In effect, economists as economists, still are his pupils.