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Apr 23, 2024 · Adam Smith (baptized June 5, 1723, Kirkcaldy, Fife, Scotland—died July 17, 1790, Edinburgh) was a Scottish social philosopher and political economist, instrumental in the rise of classical liberalism. Adam Smith is a towering figure in the history of economic thought. Known primarily for a single work— An Inquiry into the Nature and Causes ...
Dec 1, 2023 · Adam Smith was a Scottish philosopher, economist, and leading Enlightenment figure. In The Wealth of Nations, he advocates free trade and the role of the invisible hand in the market. Learn more about his life, ideas, and legacy in this article from World History Encyclopedia, a comprehensive and reliable source of historical information.
- Mark Cartwright
- Adam Smith is famous as a philosopher and economic theorist who proposed that states can create more wealth by not inhibiting trade and commerce. H...
- Adam Smith proposed a labour theory of value, where something has two values: its use value and its exchange value. The exchange value is based on...
- Adam Smith would not have wholly agreed with laissez-faire economics. He did believe in minimising state intervention in trade and commerce but not...
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t. e. Adam Smith FRS FRSE FRSA (baptised 16 June [ O.S. 5 June] 1723 [1] – 17 July 1790) was a Scottish [a] economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. [3] Seen by some as "The Father of Economics" [4] or "The Father of Capitalism", [5] he wrote two classic ...
Aug 9, 2023 · Adam Smith was an economist and philosopher who wrote what is considered the "bible of capitalism," The Wealth of Nations, in which he details the first system of political economy. Early Years
- He invented fundamental economic concepts. Among the concepts Smith came up with – or helped to popularise – are productivity, free markets and the division of labour.
- He has a cult following. Smith was already famous in his lifetime, even before he published Wealth of Nations. As a professor of moral philosophy at the University of Glasgow between 1753 and 1763, his reputation attracted students from as far away as Russia.
- He was the first Scot ever to appear on an English banknote. Between 2007 and 2020, Smith featured on English £20 banknotes. He was a proud Scotsman, a Kirkaldy native who spent his formative years in Glasgow.
- He was a polymath. In his Glasgow classes, Smith lectured on moral philosophy, a broad humanities subject, which in 18th-century Scotland included topics as varied as morals, politics, religion, economics, jurisprudence and history.
Sep 30, 2023 · Adam Smith was an 18th-century Scottish philosopher. He is considered the father of modern economics. Smith is most famous for his 1776 book, The Wealth of Nations. Smith's writings were studied ...
Early Life and Influences. Adam Smith was born in June, 1723, in Kirkcaldy, a port town on the eastern shore of Scotland; the exact date is unknown. His father, the Comptroller and Collector of Customs, died while Smith’s mother was pregnant but left the family with adequate resources for their financial well being.
