Specialization of labor is a classic economic theory. Plato discussed the specialization of labor in his work "Republic". Plato wrote about this theory by saying the state could supply its needs with ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Specialization and trade are the key to economic prosperity argues Arnold Kling in an important new book, Specialization and Trade: A Re-Introduction to Economics. Kling has important insights about ...

Specialization of labor is most often known as the division of labor and refers to a process in business in which large tasks are divided into smaller tasks, and different employees or different ...

In my last post I talked about how unfounded assumptions are at the root of the most dangerous types of crisis. In this one I’ll explore some of the reasons why such severe crises seem to happen more ...

Popular wisdom drives home the importance of a head start and specializing early. Not so fast, advises journalist David Epstein. Epstein filed this information away until he was asked by the Pat ...

A little more than 10 years ago, Outliers by Malcolm Gladwell was published. Throughout that book, he frequently cited the so-called "10,000-Hour Rule," which stated that to master something, one ...