adam smith

     

Aam Smith (baptised June 16, 1723 – July 17, 1790 [OS: June 5, 1723 – July 17, 1790]) was a Scottish moral philosopher and a pioneering political economist. One of the key figures of the intellectual movement known as the Scottish Enlightenment, he is known primarily as the author of two treatises: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). Smith is also known for his explanation of how rational self-interest and competition, operating in a social framework which ultimately depends on adherence to moral obligations, can lead to economic well-being and prosperity. His work helped to create the modern academic discipline of economics and provided one of the best-known rationales for free trade. He is widely acknowledged as the "father of economics".

Trivia about adam smith

  • In 2007 this 18th century professor & writer became the first Scotsman to appear on an English banknote
  • It took him 9 years to write "An Inquiry Into the Nature and Causes of the Wealth of Nations"
  • In a 1776 work he wrote, "Consumption is the sole end and purpose of all production"
  • He said to found a great empire only for customers seems to be a project "for a nation of shopkeepers"
  • Mercantilism was shot down by this economist in his "Wealth of Nations"
  • In a 1776 work, he inquired into laissez-faire economics
  • This Scot's 1776 work contained 5 books, including "Of Systems of Political Economy"
  • In 1787 this philosopher & economist was named lord rector of the University of Glasgow
  • Washington's 9th District is represented by this man, who has the same name as a certain economist
  • His "Wealth of Nations" is widely considered the first great work in political economy
  • His "The Wealth of Nations" was one of the first books bought to stock the new Library of Congress
  • This 18th C. Scottish political philosopher laid the foundations of free-market economic theory
  • When Napoleon said "England is a nation of shopkeepers", he was quoting this economist
  • He wrote a review of Samuel Johnson's dictionary before inquiring into the "Wealth of Nations"
  • He's considered the first of the classical economists
  • Born in Scotland in 1723, this economist concluded that people always act in their own best interests
  • Though not a sci-fi author, he wrote about an "invisible hand" in the marketplace in 1776
  • This Scottish economist theorized that labor, not land, is the main source of wealth
  • In 1771 this man hadn't turned to economics yet, but his "Theory of Moral Sentiments" is recommended

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