Definitions for Adam Smith
adam smith

Princeton's WordNetRate this definition:0.0 / 0 votes

1. Smith, Adam Smithnoun

   Scottish economist who advocated private enterprise and free trade (1723-1790)

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1. Adam Smith

   Adam Smith FRSA (baptized 16 June [O.S. 5 June] 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics" or "The Father of Capitalism", he wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God's will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage.Smith studied social philosophy at the University of Glasgow and at Balliol College, Oxford, where he was one of the first students to benefit from scholarships set up by fellow Scot John Snell. After graduating, he delivered a successful series of public lectures at the University of Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow, teaching moral philosophy and during this time, wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. As a reaction to the common policy of protecting national markets and merchants, what came to be known as mercantilism—nowadays often referred to as "cronyism" or "crony capitalism"—Smith laid the foundations of classical free market economic theory. The Wealth of Nations was a precursor to the modern academic discipline of economics. In this and other works, he developed the concept of division of labour and expounded upon how rational self-interest and competition can lead to economic prosperity. Smith was controversial in his own day and his general approach and writing style were often satirised by writers such as Horace Walpole.

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1. adam smith

   Adam Smith was an 18th-century Scottish economist, philosopher, and author who is considered the father of modern economics. His most famous works, "The Wealth of Nations" and "The Theory of Moral Sentiments," lay the groundwork for economic theory as we know it today. Smith's theories around the economy, free trade, and the 'invisible hand' of the market have greatly influenced modern economic thought. He also made significant contributions to moral philosophy.

WikidataRate this definition:0.0 / 0 votes

1. Adam Smith

   Adam Smith was a Scottish moral philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Adam Smith is best known for two classic works: The Theory of Moral Sentiments, and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is cited as the "father of modern economics" and is still among the most influential thinkers in the field of economics today. Smith studied social philosophy at the University of Glasgow and at Balliol College in the University of Oxford, where he was one of the first students to benefit from scholarships set up by his fellow Glaswegian John Snell. After graduating, he delivered a successful series of public lectures at the University of Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. Smith then returned home and spent the next ten years writing The Wealth of Nations, publishing it in 1776. He died in 1790 at the age of 67.

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1. adam smith

   Quotes by adam smith -- Explore a large variety of famous quotes made by adam smith on the Quotes.net website.

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Numerology

1. Chaldean Numerology

   The numerical value of Adam Smith in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of Adam Smith in Pythagorean Numerology is: 7

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=Adam Smith
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Adam_Smith
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=Adam Smith