I have seen interpretations of this proverb that focus on a possible altruistic or industrious dimension to its meaning. That, for example, the shoemaker is too busy to attend to his children. perhaps overworked to make even more basic ends meet.
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The earliest recording of this proverb is in John Heywood's 1546 book of proverbs.A similar sentiment is found in Robert Burton's The Anatomy of Melancholy, first published in 1621: "Him that makes shoes go barefoot himself".
Other variants include "the shoemaker's son always goes barefoot" and "the cobbler's children go barefoot." Children or child is sometimes replaced with the more colloquial kids.