Comparison the different views on the institutions between Adam Smith and Douglass C. North

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Comparative Area Studies 수업에 제출한 영문 레포트 입니다.
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제목 : Comparison the different views on the institutions between Adam Smith and Douglass C. North

목차

Ⅰ An inquiry into the nature and causes of the wealth of nations-Adam Smith
1. Of the Division of Labour
2. Of Restrains upon the Importaion from Foreign Countries of such Goods as can be produced at home

Ⅱ Institutions-Douglass C. North
1. Institution to Capture the Gains from Trade
2. When Institutions Do Not Evolve
3. Institutional Evolution in Early Modern Europe
4. Contrasting Stories of Stability and Change

Ⅲ Comparison the different views on the institutions between Adam Smith and Douglass C. North

본문내용

<Of the Division of Labour>
Division of labour results from the productive energy of labour and is affected by great skill, dexterity and directed judgement. The efficiency of division of labour even derives from the trivial manufacture and it makes the whole work characteristic and split of number of branches. This example is showed from the fact that even trifling pin making business is divided in eighteen specific operations by distinct hands or occasionally the hands that operate two or three work. As each person takes partial charge of the work with different operations, the efficiency of division of labour is maximized to the degree which it is the most profitable. Therefore, this disunion of various trades and operations has been practiced in view of the outcome achieved and advantage. The more industrial and improved country, the more prevailing the separation of work. It thus has been raised quantity of this due to the rise of expertness in workmen, saving of the time which usually is lost from process of work and the invention of fine machinery which enables to connect labour more proficiently and make workmen to work an amount of many Division of labour makes it possible to turns out multiplication of the production and ubiquitous wealth permeating into every rank of people.

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