It is the great multiplication of the productions of all the different arts, in consequence of the division of labor, which occasions, in a well-governed society, that universal opulence which extends itself to the lowest ranks of the people. Every workman has a great quantity of his own work to dispose of beyond what he himself has occasion for; and every other workman being exactly in the same situation, he is enabled to exchange a great quantity of his own goods for a great quantity, or, what comes to the same thing, for the price of a great quantity of theirs. He supplies them abundantly with what they have occasion for, and they accommodate him as amply with what he has occasion for, and a general plenty diffuses itself through all the different ranks of the society.
— Adam Smith, Inquiry into the Nature and Causes of the Wealth of Nations (1776)
Conference on the Impact of Corporate Social Responsibility
April 14-16, 2016, Wake Forest School of Business
Hayek Lecture Series:
“The End of Socialism” – Dr. James Otteson