making sense beyond common sense
Assignment 1
Economics: Making Sense beyond Common Sense
Workers and the Economy
Abstract
This essay will provide a meaning to the subject matter of economics and attempt to answer the question “What role does the division of labour play in defining this subject matter?” I will do this by defining the subject matter of economics and the division of labour. I will then refer to the opinions of two theorists, Emile Durkheim and Karl Marx and their perspectives on the division of labour. In closing I will point out the problems that arise from the division of labour and how these problems affect the worker negatively and the capitalist positively. [Your assignments don’t need an abstract.]
The Subject Matter of Economics
According to Michael Yates, as quoted in his book “Naming the System, Inequality and Work in the Global Economy,[”] the subject matter of economics is the production and distribution of output (Yates, 2003). [This isn’t actually a quotation, and you should avoid one sentence paragraphs.]
Economics can also be defined as the science that studies the production of wealth under a system of division of labor, that is, under a system in which the individual lives by producing, or helping to produce, just one thing or at most a very few things, and is supplied by the labor of others for the far greater part of his needs (Reisman, 1996). [Again, avoid one sentence paragraphs.]
Division of Labour
[OMIT By the phrase] [The] “division of labour” [OMIT one can say that it] refers to the splitting up of an activity into a number of parts or smaller processes. These smaller processes are undertaken by different persons or groups, thereby speeding up the performance of the activity. Therefore the division of labour implies specialization, whereas each person becomes an expert at his/her task, saving time and saving costs and at the same time increasing productivity (Vinya, 2012).
Economics: Making Sense beyond Common Sense
Workers and the Economy
Abstract
This essay will provide a meaning to the subject matter of economics and attempt to answer the question “What role does the division of labour play in defining this subject matter?” I will do this by defining the subject matter of economics and the division of labour. I will then refer to the opinions of two theorists, Emile Durkheim and Karl Marx and their perspectives on the division of labour. In closing I will point out the problems that arise from the division of labour and how these problems affect the worker negatively and the capitalist positively. [Your assignments don’t need an abstract.]
The Subject Matter of Economics
According to Michael Yates, as quoted in his book “Naming the System, Inequality and Work in the Global Economy,[”] the subject matter of economics is the production and distribution of output (Yates, 2003). [This isn’t actually a quotation, and you should avoid one sentence paragraphs.]
Economics can also be defined as the science that studies the production of wealth under a system of division of labor, that is, under a system in which the individual lives by producing, or helping to produce, just one thing or at most a very few things, and is supplied by the labor of others for the far greater part of his needs (Reisman, 1996). [Again, avoid one sentence paragraphs.]
Division of Labour
[OMIT By the phrase] [The] “division of labour” [OMIT one can say that it] refers to the splitting up of an activity into a number of parts or smaller processes. These smaller processes are undertaken by different persons or groups, thereby speeding up the performance of the activity. Therefore the division of labour implies specialization, whereas each person becomes an expert at his/her task, saving time and saving costs and at the same time increasing productivity (Vinya, 2012).