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Aug 17, 2024 · Adam Smith, Scottish social philosopher and political economist who is a towering figure in the history of economic thought, best known for his book An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the first comprehensive system of political economy.
Jun 21, 2024 · 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...
For other people named Adam Smith, see Adam Smith (disambiguation). 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 ]
Adam Smith is known primarily for a single work—An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the first comprehensive system of political economy—which included Smith’s description of a system of market-determined wages and free rather than government-constrained enterprise, his system of “perfect liberty ...
Dec 1, 2023 · What was Adam Smith famous for? Adam Smith is famous as a philosopher and economic theorist who proposed that states can create more wealth by not inhibiting trade and commerce. He is regarded as the father of liberal economics. What is Adam Smith's theory? Adam Smith proposed a labour theory of value, where something has two values: its use ...
- Mark Cartwright
Aug 9, 2023 · Adam Smith was an economist and philosopher who wrote what is considered the "bible of capitalism," The Wealth of Nations, in which he details the first system of political economy.
Aug 3, 2024 · The Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy.
