Adam Smith

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Summary writing skills: Adam Smith

Adam Smith, born in 1723, was a Scottish economist, philosopher, and author. He is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776).

Summation practice: Adam Smith

adam-smith

Smith studied social philosophy at the University of Glasgow and at Balliol College, Oxford. 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.

Adam Smith; political theory (6:41)

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