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Manica Travel on Consumption and production were no longer constrained by the type and amount of resources that one possessed. Through specialization and exchange, an individual could produce those items for which his resources and abilities were best suited, trade with someone else to get goods and services he could not otherwise obtain and subsequently free up time and other valuable resources. Adam SMITH formally recognized the benefits of such specialization when he outlined his Theory of Absolute Advantage in his 1776 work, An Inquiry into the Nature and Causes of the Wealth of Nations. The rewards of exchange were further endorsed by David RICARDO when he formulated his Theory of Comparative Advantage. Individuals grew more dependent on one another as barter spread. This, however, did little to negate the tremendous gains from exchange as community living typically fostered a certain degree of trust among individuals. Specialization and the division of labor have long been acknowledged as driving forces of improvements in productivity and living standards. Manica Travel 2016.

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