We hypothesize that the continuum between generalist and specialist adaptations is an important general tradeoff axis in the maintenance of local diversity, and we explore this idea with a simple model in which there are patch types to which species arrive as propagules and compete. Each patch type is defined by a competitive ranking of all species. A highly specialist species is the top competitor in one patch type, but has a relatively low average ranking across different patch types, while a generalist species has a high average rank across patch types, but is not top competitor in any one patch type. We use random dispersal and vary the fecundity of all species together to vary total propagule density, and therefore recruitment limitation and density-dependent mortality. When fecundity is very high, each patch becomes occupied by its specialist species and generalists go extinct, so the number of species at equilibrium is equal to the number of patch types. If fecundity is very low, generalists dominate, and specialists go extinct. There is a range of fecundity levels in which specialists, generalists and intermediates coexist, and the number of species is substantially greater than the number of patch types. While coexistence of specialists and generalists has been considered a problem in evolutionary ecology, our results suggest to the contrary that this tradeoff contributes to the maintenance of local diversity.