Cavemen and middlemen

posted by
January 9, 2012
Foundation for Economic Education
by Richard W. Fulmer  
Posted in Commentary

"If a caveman could specialize in a single craft, such as making obsidian knives, he would likely become skilled through sheer repetition.  He would soon learn to create better products more quickly and with less effort than if he had to spend potential knife-building time hunting, fishing, gathering food, constructing shelters, building fires, and crafting baskets, pottery, and clothing.  Specialization, however, would only be possible if there were sufficient demand for his tools." (01/09/12)  

Our Sponsors