GILLES, ROBERT P.; LAZAROVA, EMILIYA A.; RUYS, PIETER H. M. - In: Division of Labor & Transaction Costs (DLTC) 02 (2007) 02, pp. 83-109
fundamental Smith-Young theorem on the extent of the market and the social division of labor. In this theory, specialization — and … thus, the social division of labor — is firmly embedded within a system of perfectly competitive markets. This leaves … the emergence of economic specialization and ultimately of economic trade and a social division of labor. We base our …