Here we go! Tweeting our way through #WealthOfNations! It’s a marathon, not a sprint, so be sure to stretch, stay hydrated, and keep a steady pace. #WealthOfTweets #SmithTweets
That’s one heck of a first sentence, Dr. Smith. No dithering here. The division of labor is the secret sauce that increases productivity. (I.i.1) #WealthOfTweets #SmithTweets
We always forget the pin factory comes this early and that Smith looks at it not because pins are important (though they are!) but because it’s a small industry that you can look at all at once.(I.i.3) #WealthOfTweets #SmithTweets
How many pins can the SmithTweeters make in a day? How bad do you want them to be? (I.i.3) #WealthOfTweets #SmithTweets
Do you think the pin guys were all “Dude, we let you observe our work, told you how many pins in a pound, showed you every step in the process...and you call us a ‘trifling manufacture’? Not cool, Smith!” (I.i.4) #WealthOfTweets #SmithTweets
Agricultural work can’t be as improved by the division of labor as other work, so it’s less likely to make a nation wealthy. Modern mechanization of farming may have changed this, but there’s no escaping the seasonal nature of the work. (I.i.4) #WealthOfTweets #SmithTweets
Okay, we are from the Midwest so we were startled to learn that when Smith talks about corn he means “the main cereal crop of a particular place.” Could be wheat, oats, or whatever. He’s not talking about corn on the cob. (I.i.4) #OhioProblems #WealthOfTweets #SmithTweets
Division of labor improves productivity 3 ways. (I.i.5–8) #WealthOfTweets #SmithTweets

1.We get good at one thing. (SmithTweeting!)
2.We don’t have to switch tasks. (It's why we don’t RousseauTweet...or is it?)
3.We make better machinery. (Hand delivering tweets? Exhausting!)
Should we be sorry for or proud of the kid who was so smart that he invented his way out of a job? (I.i.8) #WealthOfTweets #SmithTweets
A little shade, a little praise. It’s Smith on philosophers!. They don’t exactly DO anything, but they see the connections between things that other people don't. (I.i.9) #WealthOfTweets #SmithTweets
Division of labor means we all get more productive, which means (if our society is well governed, which is a very big 𝐢𝐟, we know) we all get better off, even the least well off among us. That’s the secret sauce.(I.i.10) #WealthOfTweets #SmithTweets
WE LOVE THIS PART! 😍 The magic of the market: turning division of labor into worldwide cooperation among strangers to produce a woolen coat. People who see markets as only cutthroat competition need more Smith and need this bit specifically. (I.i.11) #WealthOfTweets #SmithTweets

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with @AdamSmithWorks

@AdamSmithWorks Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @adamsmithworks

6 Jan
Today we come to the topic @EconTalker has called one of the more underemphasized lessons from #AdamSmith: That the Division of Labor is limited by the Extent of the Market. a.k.a Book 1 Chapter 3. #WealthOfTweets #SmithTweets
We love ya, Smith, but we see why people don't dwell on this chapter. Unless they are really into the navigable waterways of the late 18th century. (I.iii.3–8) #WealthOfTweets #SmithTweets #RiverEnthusiastsRejoice Image
The first two paragraphs of this chapter are the meatiest. Then things get a little...#WealthOfTweets #SmithTweets
Read 15 tweets
5 Jan
#WealthOfNations I.ii is all about the secret sauce origin story: why does the division of labor happen in the first place? #AdamSmith illustrates (in part) with doggos to hold our attention. (I.ii.2,5) 🐶 #WealthOfTweets #SmithTweets #DoggosDontTrade
Divsion of labor, Smith said yesterday, is responsible for a whole heckuva lot. But who thought of it? Nobody! It's "not originally the effect of any human wisdom, which foresees and intends that general opulence to which it gives occasion." (I.ii.1) #WealthOfTweets #SmithTweets
There's no mastermind behind economic exchange, our "propensity to truck, barter, and exchange one thing for another" (I.ii.1) arises out of our natural tendency to persuade one another and better our condition. #WealthOfTweets #SmithTweets
Read 17 tweets
4 Jan
We have to pause now, because we have to have a whole new tweet thread on #AdamSmith and “savage nations,” because he’s going to keep using this kind of phrase, so we need to talk about it. #WealthOfTweets #SmithTweets
Please know that your friendly SmithTweeters give heavy side-eye to Smith’s use of phrases like “savage nations” and “naked savages” and so on. They are obviously shocking to the modern ear, and they should be. #WealthOfTweets #SmithTweets
“Well, it’s the 18th century, what do you expect?” just isn't a sufficient explanation. #WealthOfTweets #SmithTweets
Read 10 tweets
1 Jan
Happy New Year! On Monday, we start tweeting about #AdamSmith 's whole #WealthOfNations at the rate of about a chapter a day! Don’t miss it! #WealthOfTweets #SmithTweets
Today, we’re looking at “The Introduction and Plan of the Work” because although it is New Year’s Day, we, the SmithTweeters, are still Very Serious Smith Scholars. #WealthOfTweets #SmithTweets
TFW you start reading “The Introduction and Plan of the Work” and realize that elevator speeches were invented before elevators. #WealthOfTweets #SmithTweets
Read 9 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!