The pin factory and the invisible hand
About this model
Adam Smith, The Wealth of Nations, 1776. Workers split pin-making into steps and output per worker multiplies; the size of the market limits how far labour can be divided; competition pulls prices toward cost. A teaching model: it keeps only this core loop and leaves out everything else a real economy has.
"The pin factory and the invisible hand" is a public Machinations diagram shared in the Community by Machinations, with 35 components.
It was created in October 2026 and last edited in November 2026.
Open the diagram in the Machinations app and press Play to watch the resources move, adjust its values to test how the system responds, or remix it to make an editable copy in My diagrams.
