894 B
894 B
Manufacturing Subdivision
Definition
The progressive division of manufacturing processes into increasingly specialized tasks over time, leading to improved and refined production methods. This subdivision occurs naturally as artificers with excess capital seek to prepare work for distant sale, resulting in the development of specialized trades like ironworking and textile manufacturing that eventually become highly differentiated.
Source Chapter
Book III, Chapter 1
Context
Smith presents this as the natural evolution of manufacturing following the establishment of local markets, explaining how the pursuit of distant markets drives the refinement and specialization that characterizes advanced manufacturing.
Economic Domain
Production