Adam smith economic theory
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Adam Smith Biography
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Adam Smith
1723-1790
With The Wealth of Nations Adam Smith installed himself as the leading expositor of economic thought. Currents of Adam Smith run through the works published by David Ricardo and Karl Marx in the nineteenth century, and by John Maynard Keynes and Milton Friedman in the twentieth.
Adam Smith was born in a small village in Kirkcaldy, Scotland, where his widowed mother raised him. At age fourteen, as was the usual practice, he entered the University of Glasgow on scholarship. He later attended Balliol College at Oxford, graduating with an extensive knowledge of European literature and an enduring contempt for English schools.
He returned home, and after delivering a series of well-received lectures was made first chair of logic (1751), then chair of moral philosophy (1752), at Glasgow University.
He left academia in 1764 to tutor the young duke of Buccleuc
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Adam Smith
Scottish economist and philosopher (1723–1790)
This article is about the Scottish economist and philosopher. For other people named Adam Smith, see Adam Smith (disambiguation).
Adam Smith (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 works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work that treats economics as a comprehensive system and an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God's will and instead appeals to natural, political, social, economic, legal, environmental and technological factors and the interact
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Adam Smith (1723-1790) was a moral philosopher and economic thinker who is widely considered to be the father of modern economics. Smith’s work is both a cornerstone in the history of modern philosophy and a major source of political and economic reform in the past two centuries.
Smith was born to a widowed mother in the port town of Kirkcaldy on Scotland’s east coast. His father, a lawyer and comptroller, died two months before he was born. After graduating at the age of 14 from one of Scotland’s top secondary schools, Smith entered the University of Glasgow and studied under the influential philosopher Francis Hutcheson. Smith then attained a scholarship to Balliol College, Oxford, where he spent six years studying European literature and where he developed contempt for elite English education and teachers, who, he complained, had “given up altogether even the pretense of teaching.”
Smith began rising to public recognition in 1748, when he started a series of lectures in Edinburgh on rhetoric, belles lettres, and jurisprudence. Around the same time, he met and began a life-l
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