Division of Labor

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I, Pencil

Free To Choose Network event 1980

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"The greater productivity of work under the division of labour is a unifying influence. It leads men to regard each other as comrades in a joint struggle for welfare, rather than as competitors in a struggle for existence. It makes friends out of enemies, peace out of war, society out of individuals."

— von Mises, Ludwig event 1922

menu_book Socialism: An Economic and Sociological Analysis

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"The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it."

— Smith, Adam event 1776

menu_book An Inquiry into the Nature and Causes of the Wealth of Nations

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I, Pencil: My Family Tree as Told to Leonard E. Read

person Read, Leonard event 1958

A classic essay illustrating the concept of spontaneous order through the story of a pencil's creation, demonstrating how no single person possesse...

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Socialism: An Economic and Sociological Analysis

person von Mises, Ludwig event 1922

Mises's 1922 treatise (originally Die Gemeinwirtschaft) arguing that socialism is not merely inefficient but calculationally impossible without mar...

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An Inquiry into the Nature and Causes of the Wealth of Nations

person Smith, Adam event 1776

Foundational work of modern economics examining the mechanisms of free markets, division of labor, and the role of self-interest in creating prospe...