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5 days ago · 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.
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- 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.
Jun 21, 2024 · Adam Smith is considered the father of modern economics for his work in pioneering ideas such as free trade and the gross domestic product (GDP).
Dec 1, 2023 · Adam Smith (1723-1790) was a Scottish philosopher, economist, and leading Enlightenment figure. In The Wealth of Nations, he advocates free trade and limited interference in markets by governments, for which he is seen as the founder of liberal economics.
- 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...
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]
Why Adam Smith is important. Adam Smith (1723-1790) was a Scottish philosopher and economist who is best known as the author of An Inquiry into the Nature and Causes of the Wealth Of Nations (1776), one of the most influential books ever written. The old view of economics. In Smith’s day, people saw national wealth in terms of a country’s ...
Here are five reasons why he remains Britain’s most important economist. The Muir Portrait of Adam Smith, c 1800, artist unknown. Scottish National Gallery. 1. 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.
