Introduction
In this research paper, concept of Division of labor by Adam Smith is critically evaluated. The concept itself is briefed clearly and precisely. Complex dimensions of Division of labor are seen in detail with including the drawbacks. Real implications in the today’s world are also seen with having examples of institutes and countries where the concept of specialization is applied. There are several benefits related to division of labor or specializations are included in this paper along with the proposed benefits from the author of concept Adam Smith himself. At the end, evaluation of two countries, Germany and ...