‘The Pin Factory’ Podcast

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Adam Smith explains in The Wealth of Nations how ten individuals acting alone could barely produce 20 pins a day. But the same individuals, each specialising in a particular part of production, could produce as many as 48,000 a day.

Specialisation and trade are responsible for much of the economic miracle over the past two centuries. The Pin Factory podcast unpacks the many parts that make up our increasingly complex world.

In this podcast series, ASI staff, fellows and special guests go beyond the headlines to provide a deeper understanding of the stories that are shaping our world.