How Did Adam Smith Influence The Economy

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Adam Smith was a enlightened thinker or philosopher, he believed in a laissez-faire economics. Smith taught people that the government should work for the people not against, especially when regarding the economy. His book The Wealth of Nations has influenced people to have a self ruling economy. Smith's ideas have allowed our world to become capitalist and more knowledgeable. Adam Smith’s exact birthdate is not known, but his baptism was recorded on June 5, 1723 in Kirkcaldy, Scotland. Sadly, his father, Adam Smith Sr, died just two months after his birth. In 1729 Smith began his education with a private tutor at home before attending the Burgh School of Kirkcaldy, where he spent about eight years learning. Adam then entered the University of Glasgow at the young age of 14 where he studied Latin, Greek, Logic, Moral Philosophy, Mathematics, and Natural Philosophy until the year 1740. Smith later began delivering public lectures at the University of Edinburgh under the patronage of Lord Kames in the year 1748. In 1751-1763 Smith was appointed the Professor of Logic at Glasgow University before taking the position of Chair of Moral Philosophy. Adam Smith published his first work, The Theory of Moral Sentiments in 1759, which closely examined the moral thinking of his time. Smith …show more content…

When the book appeared in 1776, there was a strong view for free trade in both Britain and America. This new feeling had been born out of the economic suffering and poverty caused by the terrible war. However, at the time of printing, not everybody was convinced of the advantages of free trade right away. Smith has been blamed for relying too much on the ideas of great thinkers such as David Hume and Montesquieu. Nonetheless, The Wealth of Nations remains the most prime book on the subject of political economy to this current

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