Adam Smith: Cars, Jobs and the Economy Essay

Submitted By bunnythind13
Words: 394
Pages: 2

Cars, Jobs, and the Economy

“Adam Smith”
In the video “To New Horizons” Adam Smith would have greatly admired the way things were depicted in that city. The future of the city created all kinds of new jobs and opportunities for the people. Bigger cities were more attractive and grew immensely in size. “The emergence of large-scale, techno-scientific governmental practices” (Mitchell, 2005) are greatly shown. New ideas of organization and economics were deployed by the people in order to create a more efficient society. The City that was formed greatly depicts the ideas of mass production. Adam Smith’s idea of the “Invisible Hand” is followed in the sense that everyone wanted to prosper off the development with the city. "The business of America is business." (Richardson, 2006) “As there are more desires for goods” the amount of supply needs to increase. The only way to have mass production was to create specification in one job and specialize in that task. Adam Smith talks about the “pin theory” (Shafritz, 2001) showing us that specialization was important to increase output instead of one person doing many different tasks. A person would be able to only produce 20 pins a day compared to a set of people who specialize in a certain task and create 4800 pins a day on average. With the new road infrastructure, the demand of cars would increase because people were able to commute farther for places of work, to see family, and different activities. The demand for cars wouldn’t be met if a single person was assembling the doors on…