A Quote by Adam Smith
The division of labour was limited by the extent of the market
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Caste is not just a division of labour, it is a division of labourers.
Would I describe myself as new Labour? I'm Labour, organised Labour. I think labels have a limited use and that's where you really get into boy stuff sometimes, just sticking on labels.
The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
We have much studied and much perfected, of late, the great civilized invention of the division of labour; only we give it a false name. It is not, truly speaking, the labour that is divided; but the men.
Servile labour disappeared because it could not stand the competition of free labour; its un-profitability sealed its doom in the market economy.
To the very limited extent that I have a political consciousness, to some extent I'm a lazy, apolitical sort of guy that just flits around.
In the mid to late nineteenth century, the gun manufacturers recognized that they had a limited market. Remember that this is a capitalist society, you've got to expand your market. They were selling guns to the military. That's a pretty limited market. What about all the rest of the people? So what started was all kinds of fantastic stories about Wyatt Earp and the gunmen and the Wild West, how exciting it was to have these guys with guns defending themselves against all sorts of things.
In a market economy with the division and specialization of labor, people use others as means to achieve their ends. This is the essence of market cooperation.
The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.
Government cannot do it all. As we work hard to break welfare dependency and get young people ready for the labour market, we need businesses to give them a chance and not just fall back on labour from abroad.
To make a division of power effectual, a veto in one form or another is indispensable. The right of each to judge for itself of the extent of the power allotted to its share, and to protect itself in its exercise, is what, in reality, is meant by a division of power.
We must continue to liberalise the single market, cut red tape and basically create a digital single market. We have not completed the single market yet, there is not sufficient free movement of goods, labour, services and money. We have to keep on working at that against all the protectionist tendencies that we have right now.
All the consumer market mojo is with Apple and to a lesser extent BlackBerry. And yet, the real market momentum with operators and the real market momentum with device manufacturers seems to primarily be with Windows Mobile and Android.
There are significant differences between the American and European version of capitalism. The American traditiionally emphasizes the need for limited government, light regulations, low taxes and maximum labour-market flexibility. Its success has been shown above all in the ability to create new jobs, in which it is consistently more successful than Europe.
Successive governments in the U.K. have worked to create a more flexible labour market, which also meant labour insecurity. They allowed wages to drop and non-wage benefits to shrivel, creating worse inequality than statistics reveal.
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