John Smith Essay

Smith’s date of birth cannot be traced, although records show that he was baptized in Scotland in June of 1723. An undoubtable philosopher, economist, and scholar, Smith’s education began at the age of 15 where he studied social philosophy at Glasgow University, focusing on morals, liberty and reasoning. In 1751 Smith was appointed a professor, where he taught, tutored, and studied economics and philosophy throughout Scotland, France, and England.

History shows that he never married but rather maintained steady friendships and relationships with fellow scholars, such as David Hume, who helped build and shaper his ideas. It is also found that a great admiration for Hume and also the physiocrats, led by Quesnay, inspired much of his work in his novels and lectures. And Smith surely stood on the shoulders of many great scholars before him, including John Locke’s ideas on private property and ownership, and the physiocrats emphasis on a natural and agricultural economy.

Smith’s two greatest writings were partially transcribed from his lectures at Glasgow University. In his first book, "The Theory of Moral Sentiments," Smith proposed the idea of the invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. However, Smith is most well-known

Smith saw many classical economic theories being implemented between Great Britain and her colonies that were new at this time. Although he did have critiques of their economic policies, Smith used Great Britain as an example to develop wage theories, the idea of economic and individual freedom, and foreign trade policies. Adam Smith recognized that the discovery of the New World not only brought wealth and prosperity to the Old World, but that it also marked a point in time where new economic tactics and methods were tried and found to be greatly