Adam Smith And The Bible Of Capitalism

882 Words4 Pages
Adam Smith, an economist, a journalist, an educator, and a philosopher. A man who singling shaped many political economy that we see today. Also a well know author of the books, The Wealth of Nation, which is none as “Bible of Capitalism”. In this paper I will inform you, the reader much more than just the few books he wrote. Today you will be informed on Adam Smith personal life, how he changed economic policies, and how his policies still impact today everyday economy. Adams Smith, an economist that wrote the “Bible of capitalism” all started in the city of Kirkcaldy in Scotland. He was baptized on June 5, 1723, his birthdate is undocumented. Smith was raised in Ireland only is his mother Margaret Douglas, Adams father died before he was born. Margaret is who we have to thanks for Smith success, she had a large impact on his education. She was able to send Smith to Burgh School of Kirkcaldy, he later at fourteen years of age, he attended University of Glasgow where he studied philosophy. Smith soon moved on to Balliol College at Oxford to study European literature. Where Smith studied under fellow scot, John Snell until he grew out of his adolescent. When Smith finished studying at Oxford University he went on to begin to deliver public Lectures at Edinburgh. Where Smith met philosopher David Hume during the Scottish Enlightenment in 1750. Smith and Hume wrote many forums about politics, history, religion, and economics. 1754 Smith became a professor at Glasgow that is where he wrote Theory of Moral Sentiments. A year later Smith was elected as a member of Philosophical Society of Edinburgh. In the Literary Club where he spent thirteen years there. There is where Smith wrote and published Wealth of Nations, the ... ... middle of paper ... ...lassical economic theory. Also in The Wealth of Nations Smith created the concept of Gross Domestic Product and defend free exchange. Before Wealth of Nation countries declared their wealth would be based on gold and silver deposit. Smith argued that countries should measure wealth on production and commerce which is now known as gross domestic product. Also when Smith address free exchange he said both sides trading would benefit. In conclusion, I have explained Adams Smith personal life. The books that has he has written throughout his life. Finally, I have elaborated on how Adam Smith has impacted the economy we see today. People can really learn to see how important Adam Smith was to shaping the world we see today, the man that wrote a “Bible of Capitalism” and defended free market. Adam Smith is a very important figure in history and will always be.
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