Short Essay On Adam Smith

The mightiest monarch in Europe, Adam Smith, often known as a world’s first free market capitalist and a brilliant Scottish Political Economist of the eighteenth century. Along with the pioneer of the economics, he is also a well-known moral philosopher of his period. The two major works by smith, that is, ‘The Theory of Moral Sentiments’ (1759) and ‘An Enquiry into the Nature and Causes of the Wealth of Nations’ (1776) which makes him and his theories famous across the globe. Adam smith’s Wealth of Nations was recognized as the first comprehensive and very systematic examination of the economic super forces in Europe that ultimately gave birth to the capitalism.

The early life of Adam Smith went as, he was born in Scotland, at Kirkcaldy, in Fife, in 1723. Due to unfortunate death of his father, he was raised by his widowed mother. In his early days of schooling he was introduced with the subjects of Latin, history, mathematics and writings. Smith entered university of Glasgow at the age of 14 and continued his concentration on mathematics and philosophy. Further he continued with his interests at Oxford University for seven years. In the beginning of the year 1748, smith

The effect of Adam Smith on such men his influence on statesmen, social theorists, ministers of trade, would be difficult to exaggerate. Smith transformed the actual way in which people thought of private economics or public policies. He lifted the national welfare above the special interests of the privileged; the ruling lords, the romantic, impatient builders of empire, the landed gentry and also above the special interests of the aggressive merchants, the clever traders, the clamoring protectionists and off-course,