specialization

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The power of specialisation

Without specialisation, we would not have computers, the internet, cars, antibiotics, or all the other more sophisticated things.

Specialisation creates wealth. The power of specialisation is related to the size of the economy. In a small village, there's only so much specialisation, such as a teacher. But in a global economy, there is an increased payoff for specialisation.

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How Much Specialization? | Scott H Young

scotthyoung.com

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