Adam Smith was a Scottish economist, educated at Glasgow and Oxford. He became professor of moral philosophy at the University of Glasgow in 1752, and while teaching there wrote his Theory of Moral Sentiments (1759), which gave him the beginnings of an international reputation. He traveled on ... the world. Smith identified self-interest as the basic economic force and, through his analysis of the division of labor and his comprehensive study of the development of economic institutions in the West, established economics as a major area of study. The Division of labor is the specialization of...

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• Grade Level: Graduate