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Do markets and the division of labour encourage or discourage social cohesion?
Pages 9 (2259 words)
The modern definition of division of labor is the process of breaking down the production into various stages and steps. These stages are designed to perform a…
Markets on the other hand are defined as the a place where economic activities in the society take place, economic activities in this case imply to the buying and selling and thus there is interaction and the interaction of buyers and sellers from different cultures and ethnical backgrounds. Markets and division of labor’s contribution towards social cohesion has been a crucial debatable issue in the contemporary practical environment (Council of Europe 2006).
Markets and division of labor according to the definition of Adam Smith can be used to explain the reason why on the adoption of this technique there is increased productivity and output in regards to the economic activities of a given society. The major objective and aim of markets and division of labor is to ensure that there is consistent maximization of profits as well as minimizing the average total cost of the production process. There are several classes of thinkers on this issue of social cohesion in regards to markets and the division of labor. This argument has been highly attributed by the several definitions of markets and division of labor in the contemporary society. The two classes of thinkers emerged when the effects and impacts of markets and division of labor started to take effect on the economic activities in the society. There were those who considered it to be a mechanism of increasing and sustaining profits (Ferrarini 2006).
The Adam Smith definition did not take into account other factors that are not within the chain of production. The other class of thought based their definition of labor on the principles of the social and collective human labor. The principle behind this definition is that markets and division of labor collectively pulled together the society thus encouraging the collective achievement of social and cultural interaction and ...
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