Adam Smith: It is the great multiplication of the production of all the different arts, in consequence of the division of labour, which occasions, in a well-governed society Research Paper

This essay should begin with a separate paragraph long abstract summarizing the argument being made. Adam Smith writes, “It is the great multiplication of the production of all the different arts, in consequence of the division of labour, which occasions, in a well-governed society, that universal opulence which extends itself to the lowest ranks of the people…” (Smith p. 25). A. What does Smith mean by “Division of Labour?” How do Marx and Engels criticize Smith’s model of the division of labour and its consequences? B. What is their alternative theory? In answering this make sure you discuss (1) How Marx and Engels redefine the meaning of the division of labour, (2) How this leads to he rise and fall of the capitalist division of labour. C. How might Smith criticize Marx and Engels’ theory of capitalism?

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