Economic history Assignment Example | Topics and Well Written Essays - 500 words

Economic history - Assignment ExampleThe insatiable quest for many an(prenominal) profits necessitated the involvement of many workers and extensive jade division. Meaning that employees could work in different locations, anonymous to each other, with the aim of producing various parts for the same commodity. This led to each maker developing a sense of isolation and loneliness, which in the end translated to producers emerging as egoistic. This state of egoism led to a natural state of contend with each fighting solely against a myriad others. However, this state of war could only be controlled if there were a central party which every producer would submit to and in turn gain protection from the rest producers. This was explained by Hobbes in his writing where he stressed that it was only after submission to an lordly monarch that individuals would escape the conflict dwelling among them.Economic specialization, on the other hand, explained the co-existence of different prod ucers in the market system to help each other survive. in that respect was complete dependence on each other for successful function of the market. Economic specialization was important as it provided for a relatively free functioning market where producers assisted each other produce and in turn benefit (Hunt 128). Labor and economic specialization contradict each other in that for the former, producers worked in isolation that prompted a feeling of competition among each other. For the latter, however, producers work to benefit each other. There is no single producer that can exist without the other.In conclusion, human beings have a desire to achieve pleasure but avoid pain with his nature being competitive and egoistic. Specialization of labor is meant to maximize profits and speed up production in any market system. When producers are left to work independent, there is the development of an