Adam Smith (1723–1790) was a Scottish economist and philosopher celebrated for his pioneering contributions to Classical Economics and the Development of free-market Theory. His landmark Work, "The Wealth of Nations," laid the foundational principles for modern economic theory and the notion of the "Invisible Hand." Smith's ideas on Division of Labor, Productivity, and laissez-faire Economics have profoundly shaped economic policies and market Dynamics. His intellectual legacy endures as a cornerstone in the study of economics and capitalist theory.
Anecdotes
- Once kidnapped by gypsies as a child, he was rescued by his uncle before any harm befell him.
- Held the position of Commissioner of Customs in Scotland, a role that placed him in charge of enforcing the very Trade regulations he criticized.
- Once held the ceremonial role of Lord Rector of The University of Glasgow, a position that demonstrates his lasting Impact on academia.
Magnitudes
- Cultivate Curiosity to fuel intellectual breakthroughs.
- Engage deeply with diverse intellectual pursuits.
- Pursue Knowledge relentlessly; mastery demands dedication.
Explore these important ideas through classics in our archives contributed by or related to Adam Smith.
Explore other influential icons and ideas connected to Adam Smith to deepen your learning and inspire your next journey.
