Adam Smith

Adam Smith was a Scottish philosopher and political economist best known for his 1776 book *The Wealth of Nations*, a foundational work in classical economics.

Adam Smith was a Scottish philosopher and political economist best known for his 1776 book *The Wealth of Nations*, a foundational work in classical economics. He is also associated with *The Theory of Moral Sentiments* and with ideas such as the division of labour and the “invisible hand.” Smith was a leading figure in the Scottish Enlightenment.

Early life and education

Smith was born in Kirkcaldy, Fife, Scotland, and studied at the Universities of Glasgow and Oxford. Sources note that his exact date of birth is unknown, but he was baptized on 5 June 1723.

Major works

Smith published two major books in his lifetime: *The Theory of Moral Sentiments* in 1759 and *The Wealth of Nations* in 1776. These works established his reputation in moral philosophy and political economy.

Economic thought

In *The Wealth of Nations*, Smith argued for market-based exchange, limited government interference, and the importance of division of labour. His ideas became central to classical economics and later debates about capitalism and free enterprise.

Legacy

Smith is often described as the father of modern economics, though some sources note that this label can be overly simplistic. His writings continued to influence economists and political thinkers long after his death. Adam Smith’s ideas remain important in Canadian economics, public policy, and business education, especially in discussions of markets, trade, regulation, and capitalism.