On The Importance Of Originality

The last worker adds less to output than the first.

This was the argument set forth by French economist Anne-Robert-Jacques Turgot (1727-1781). Turgot believed that national wealth was created from agriculture. In the 1700’s this made more sense than now. Turgot developed an interesting theory that explained how the output of each extra worker changes as successive workers are added to a production process. It goes like this:

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