Adam Smith

Adam Smith

Born: June 16, 1723

Died: July 17, 1790

Nationality: Scottish

Occupation: Economist

Biography: Adam Smith was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Principles Which Lead and Direct Philosophical Enquiries, Illustrated by the History of Astronomy, prior to 1758, The Theory of Moral Sentiments, 1759, and An Inquiry into the Nature and Causes of the Wealth of Nations, 1776.

Source/Notes: An Inquiry Into the Nature and Causes of the Wealth of Nations (1776), Book I, Ch. 10, "Of Wages and Profit in the different Employments of Labour and Stock"

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Source/Notes: The Theory of Moral Sentiments; Or, An Essay Towards an Analysis of the Principles by which Men Naturally Judge Concerning the Conduct and Character, First of Their Neighbours, and Afterward of Themselves: To which is Added, a Dissertation on the Origin of Languages (1793 edition)
Source/Notes: An Inquiry Into the Nature and Causes of the Wealth of Nations (1776), Vol. 1, Ch. 2, "Of the Principle which gives Occasion to the division of Labour", p. 15

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Source/Notes: Paraphrase from "An inquiry into the nature and causes of the wealth of nations" (1776), Vol.1, Ch. II, "Of the Principle which gives Occasion to the Division of Labour", p. 14