Adam Smith is a famous Scottish economist and philosopher, the founder of the classical school of political economy. His most famous works are: the scientific work Theory of Moral Senses and the book Study of the Nature and Causes of the Wealth of Nations.
Adam Smith was born in the small town of Kirkcaldy in the family of a customs officer. The date of his birth is not known reliably. Many scholars are of the opinion that Smith was born and baptized on June 5, 1723. Smith’s father died before he was born. He studied at a local school, where he received a good education. From early childhood he was surrounded by books, which he loved to read, and showed great interest in mental activities.
Smith studied philosophy at the University of Glasgow from the age of 14, where he received a master’s degree and a scholarship for further study. Three years later he entered college in Oxford, who graduated in 1746. Since 1748 in Edinburgh, Adam, with the support of Lord Caimes, began to give students lectures on literature, economics, law and other subjects.
In 1750, Smith had an important meeting with David Hume, who shared his views in philosophy, religion, politics and economics. Their joint works played a significant role in the period of the Scottish Enlightenment.
In 1751 Smith was a professor of logic in Glasgow. There he lectured on rhetoric, political economy, law.... On the materials of his lectures, he wrote and published a scientific book “Theory of Moral Senses,” which became one of his most famous works. In this book, Smith revealed ethical standards of behavior that support stability in society, and described the approach to moral and ethical equality among people.
Since 1764, Adam Smith graduated from the University of Glasgow. For two years he went to France to accompany the adopted son of Duke Baklut on a trip abroad. For this work Smith was well paid, he continued to work on his book and could not return to Glasgow.
In 1776, in London, Smith finished work on the book “An Investigation of the Nature and Causes of the Wealth of Nations”, begun in France. It was this work that brought Adam Smith world fame. In it, the author analyzes the idea of economic freedom, the liberation of the economy from the influence of the state, which prevents its normal development. This book is considered the main foundation of economic education to this day.
Adam Smith moved to Edinburgh in 1778, where he received the post of customs commissioner. Serious attitude to the work did not leave time for scientific activity, but still Smith sketched out his third book, which could not be finished. Before he died, he ordered the burning of all manuscripts.
The great economist died on July 17, 1790 in Edinburgh from an intestinal illness.