Adam Smith

Adam Smith was a Scottish economist and philosopher born in Kirkcaldy, Fife in 1723. He is widely seen as the father of economics and a pioneering figure in the field of political economy during the Scottish Enlightenment. Smith is primarily known for two major works. The Theory of Moral Sentiments was published in 1759, while An Inquiry into the Nature and Causes of the Wealth of Nations followed in 1776. The latter, commonly called The Wealth of Nations, is considered his magnum opus and is regarded as marking the beginning of modern economic scholarship as a comprehensive system and academic discipline. In his work, Smith departed from earlier explanations that attributed the distribution of wealth and power to divine will. Instead, he examined natural, political, social, economic, legal, environmental and technological factors, as well as the interactions among them. His writings made notable contributions to economic theory, particularly through his exposition of the concept of absolute advantage. Smith died in Edinburgh in 1790.

Books by Adam Smith

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