810 B
810 B
Advancing State of Manufacture
Definition
A condition of industrial development where production is expanding, creating continual demand for new workers and maintaining higher wages due to the growing need for labour in the expanding enterprise.
Source Chapter
Book I, Chapter 10
Context
Smith contrasts advancing manufactures with declining ones, noting that the former maintain constant demand for labour while the latter experience increasing surplus of workers. This distinction helps explain why wages differ between regions and industries based on their stage of development rather than inherent qualities of the work itself.
Economic Domain
Production