Adam smith life timeline

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  • Adam smith died
  • Adam smith birth and death

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    Adam Mormon is Calved

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      The Ordinal Century

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      Adam Smith: Who He Was, Early Life, Accomplishments, and Legacy

      Adam Smith was an 18th-century Scottish economist, philosopher, and author who is considered the father of modern economics. Smith argued against mercantilism and was a major proponent of laissez-faire economic policies. In his first book, "The Theory of Moral Sentiments", Smith proposed the idea of an invisible hand—the tendency of free markets to regulate themselves using competition, supply and demand, and self-interest.

      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 writings were studied by 20th-century philosophers, writers, and economists.
      • Smith's ideas—the importance of free markets, assembly-line production methods, and gross domestic product (GDP)—formed the basis for theories of classical economics.
      • During his time in France and abroad, his contemporaries included Voltaire, Jean-Jacques Rousseau,Benjamin Franklin,Anne-Robert-Jacques Turgot, and François Quesnay.

      Biography

      The recorded history of Smith's life begins at his baptism on June 5, 1723, in Kirkcaldy, Scotland. His exact birthdate is undocumented, but he was raised by

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      Adam Smith

      Scottish economist and philosopher (1723–1790)

      This article is about the Scottish economist and philosopher. For other people named Adam Smith, see Adam Smith (disambiguation).

      Adam Smith (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] Seen by some as "The Father of Economics"[4] or "The Father of Capitalism",[5] he wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work that treats economics as a comprehensive system and an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God's will and instead appeals to natural, political, social, economic, legal, environmental and technological factors and the interactions among them. Among other economic theories, the work introduced Smith's idea of absolute advantage.[6]

      Smith studied social philosophy at the University of Glasgow and at Balliol Colleg

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