Adam Smith
Scottish economist and philosopher, father of modern economics
He is best known for his works The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776).[1][2] Smith is often regarded as the "father of economics" or the "father of capitalism".[1]
Quick Facts
- Baptised
- 16 June, 5 June 1723
- Birthplace
- Kirkcaldy, Fife, Scotland
- Died
- 17 July 1790
- Place of death
- Edinburgh, Scotland
- Resting place
- Canongate Kirkyard
- Region
- Western philosophy
- Education
- University of Glasgow; Balliol College, Oxford
- Notable works
- The Theory of Moral Sentiments (1759); The Wealth of Nations (1776)
Facts from the source article.
Life and work
Smith was born in Kirkcaldy, Fife, and his father, a senior solicitor, died before Smith was born.[3][4] He studied moral philosophy under Francis Hutcheson at the University of Glasgow from age 14.[3][2] In 1740, Smith went to Balliol College, Oxford, on a Snell Exhibition scholarship.[3][5] He began delivering public lectures in Edinburgh in 1748, sponsored by Lord Kames.[6][2]
Smith met philosopher David Hume around 1750, and they became close intellectual friends.[7][2] He became professor of logic at Glasgow in 1751 and professor of moral philosophy in 1752.[8][9] He died in Edinburgh on 17 July 1790 after a painful illness.[8][9] Drawing on his Glasgow lectures, Smith's 1759 work The Theory of Moral Sentiments made him a leading thinker of his day.[2][10]
In 1764 Smith left his professorship to become a travelling tutor for the young Duke of Buccleuch, a position that involved touring Europe.[3][2] After returning to Kirkcaldy in 1766, Smith devoted the majority of the subsequent ten years to composing The Wealth of Nations.[8][2]
What the cited sources add
A 1790 obituary in The Times notes that Smith was educated at Glasgow College and sent as an exhibitioner to Balliol College Oxford.[5] The same obituary states that Smith admired David Hume as the greatest philosopher.[5] The BBC account records that Smith was appointed commissioner of customs in Edinburgh in 1778.[9] The Corporate Finance Institute article explains that Smith introduced the concept of absolute advantage in The Wealth of Nations.[11]
The Undiscovered Scotland biography mentions that Smith's picture appears on the £50 note issued by Scotland's Clydesdale Bank since 2003.[2]
References
- Wikipedia, "Adam Smith" (CC BY-SA 4.0), which cites: "Adam Smith (1723–1790)", BBC; "BBC – History – Scottish History", www.bbc.co.uk; Sharma, "Adam Smith: The Father of Economics", Cambridge University Press, 2018, p. 101; Rasmussen, "The Infidel and the Professor: David Hume, Adam Smith, and the Friendship That Shaped Modern Thought", Academy of Management Journal, 30 November 2017, p. 12 (we also read that source) en.wikipedia.org
- "Adam Smith: Biography on Undiscovered Scotland", Undiscoveredscotland.co.uk. facts only, no text reused. undiscoveredscotland.co.uk
- Wikipedia, "Adam Smith" (CC BY-SA 4.0) en.wikipedia.org
- Wikipedia, "Adam Smith" (CC BY-SA 4.0), which cites: ; ; (original not read by us) en.wikipedia.org
- "Times obituary of Adam Smith", The Times, 24 July 1790. facts only, no text reused. en.wikisource.org
- Wikipedia, "Adam Smith" (CC BY-SA 4.0), which cites: "Adam Smith", Biography; ; Smith, A. ([1762] 1985). Lectures on Rhetoric and Belles Lettres [1762]. vol. IV of the Glasgow Edition of the Works and Correspondence of Adam Smith (Indianapo (original not read by us) en.wikipedia.org
- Wikipedia, "Adam Smith" (CC BY-SA 4.0), which cites: Winch, Donald, "Smith, Adam (bap. 1723, d. 1790)", Oxford University Press, September 2004 (original not read by us) en.wikipedia.org
- Wikipedia, "Adam Smith" (CC BY-SA 4.0), which cites: ; (original not read by us) en.wikipedia.org
- "Adam Smith (1723–1790)", BBC. facts only, no text reused. bbc.co.uk
- Wikipedia, "Adam Smith" (CC BY-SA 4.0), which cites: Fleischacker, "Being Me Being You: Adam Smith and Empathy", University of Chicago Press, 2019 (we also read that source) en.wikipedia.org
- "Absolute Advantage – Ability to Produce More than Anyone Else", Corporate Finance Institute. facts only, no text reused. corporatefinanceinstitute.com
Each numbered sentence above was checked against the source it cites before publication. Sentences citing Wikipedia adapt text from the English Wikipedia article Adam Smith (contributors), used under CC BY-SA 4.0; this entry is available under the same licence. Other sources were used for facts only; no text or images are copied from them.
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