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Adam Smith Biography

Adam Smith is the most influential political economist of all time. His ideas that were generated in the eighteenth century are still utilized even today. No economist writings have been more read than Smith’s writing. He wrote many pieces but none are more acknowledged than The Wealth of Nations, which has become identified as the “economist Bible.” Smith’s ideas laid the foundation of the Industrial Revolution in the nineteenth century. Adam wrote during a period of economic decline with bad crops and industry that was right before the economic boom in England. The central argument that built around with most of his writings was that do what is best for yourself and it will caring over to the society without you knowing it. With that he describes that there is a “Invisible Hand” is not see but it channels the economy to the right direction. From his idea of competition and division of labor, Adam Smith has not been forgotten even today.

In 1723, Adam Smith was born in the small fishing village Kirkcaldy, Scotland. When he was abducted by and band of gypsies but was recovered days later. When he was fourteen he entered into the University of Glasgow, there Francis Hutcheson mentored him. Three years later Adam won a


The Theory of Moral Sentiments goals was to investigate how people adopt values of morality by how they arbitrate others and how people adopt values of morality by themselves. Smith writes that humans enjoy seeing their values in others thus we give opinions by our own moral judgement and values. Smith believes that we learn how to assume an “impartial spectator” or unbiased perspective from which we judge our own behavior. Adam writes that society and actions with others create moral judgments. Smith claims that human develop complex values of actions from birth to death. Also that if ones childhood is isolated and chaotic confrontations with others will lead, as we grow older to habits of behavior. Smith contends that the accepted moral standards of a society are depended on correlation between people. If there are no interactions, Smith claims that there would be no rules. Thus government lies within the people due to interactions of people create the moral standards and a government is made up of moral standards. Though not as influential as The Wealth, The Theory of Moral Sentiments was seen by Smith as equal to the renowned book.

scholarship and attended Balliol College, Oxford. For seven years there he was in intellectual isolation and was almost expelled for having banned work in his room. During those seven years he self-instructed with very few teachers. From Balliol College he gained knowledge of classic Greek and Roman writing. In his twenties, Smith, arranged to give a series of public lectures in Edin

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Approximate Word count = 1033
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