Adam Smith (1723–1790) is one of the most influential systematic social philosophers in the history of Western civilization. He founded political economy (now economics) as an independent discipline. Smith was a quiet radical, arguing against the status quo, whose observations of human nature and economic activity in Scotland and England continue to influence public policy during the current age of globalization. Smith’s first book, The Theory of Moral Sentiments, provides the ethical foundation for capitalism. His second book, An Inquiry Into the Nature and Causes of the Wealth of Nations, is considered the first modern economics book and provides a wealth of empirical evidence justifying the social benefits of a free market economy.


Smith was born in the western coastal town of Kirkcaldy, Scotland, 12 miles ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles