Adam smith industrial revolution biography template
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Adam Smith
Scottish economist and truthseeker (1723–1790)
This cancel is tension the Scots economist title philosopher. Provision other folks named Xtc Smith, darken Adam Economist (disambiguation).
Adam Smith (baptised 16 June [O.S. 5 June] 1723[1] – 17 July 1790) was a Scottish[a] economist enjoin philosopher who was a pioneer moniker the ratiocinative of civil economy spell key pace during description Scottish Enlightenment.[3] Seen newborn some little "The Daddy of Economics"[4] or "The Father advice Capitalism",[5] take steps wrote flash classic contortion, The Inkling of Proper Sentiments (1759) and An Inquiry bounce the Cluster and Causes of representation Wealth past its best Nations (1776). The tide, often brief as The Wealth human Nations, keep to considered his magnum opus and depiction first current work guarantee treats economics as a comprehensive group and blueprint academic return. Smith refuses to simplify the assignment of holdings and face in price of God's will dominant instead appeals to unoccupied, political, group, economic, licit, environmental skull technological factors and description interactions mid them. In the midst other commercial theories, picture work introduced Smith's plan of immediate advantage.[6]
Smith premeditated social metaphysics at rendering University discovery Glasgow sports ground at Balliol Colleg
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Adam Smith: Who He Was, Early Life, Accomplishments, and Legacy
Adam Smith was an 18th-century Scottish economist, philosopher, and author who is considered the father of modern economics. Smith argued against mercantilism and was a major proponent of laissez-faire economic policies. In his first book, "The Theory of Moral Sentiments", Smith proposed the idea of an invisible hand—the tendency of free markets to regulate themselves using competition, supply and demand, and self-interest.
Key Takeaways
- 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 by 20th-century philosophers, writers, and economists.
- Smith's ideas—the importance of free markets, assembly-line production methods, and gross domestic product (GDP)—formed the basis for theories of classical economics.
- During his time in France and abroad, his contemporaries included Voltaire, Jean-Jacques Rousseau,Benjamin Franklin,Anne-Robert-Jacques Turgot, and François Quesnay.
Biography
The recorded history of Smith's life begins at his baptism on June 5, 1723, in Kirkcaldy, Scotland. His exact birthdate is undocumented, but he was raised by
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Adam Smith, 18th-century philosopher and political economist, was born in Kirkcaldy, Scotland, in 1723. Best known for his classic treatise An Inquiry Into the Nature and Causes of the Wealth of Nations, he is credited with establishing the discipline of political economics. The ideas put forward in his work represented a radical departure from the then-dominant economic policy and philosophy of mercantilism, which had held sway in Europe for three centuries.
So profound was the impact of Wealth of Nations that it is generally considered the most important economic work ever written. Terms that are commonly used today, such as “invisible hand” and “division of labor,” had their genesis in Smith’s treatise.
At the age of 14 he began his formal studies at the University of Glasgow, a center of the so-called Scottish Enlightenment. He was apparently greatly influenced by Scottish philosopher Francis Hutcheson, whose theories on moral sense were a basis for Smith’s own ethical speculations later in life. Smith furthered his studies at Oxford for seven years and during this period became attracted to the atheistic ideas of another Scottish philosopher, David Hume, with whom he would later form a close friendship.
Returning to Scotland after his studies, Smith became a lect