Adam smith biography economist subscription

Adam Smith (1723 – 1790) was a Scottish economist and philosopher who laid the foundations of the modern economic system and is known as the Father of Modern Economics. Smith’s first work Theory of Moral Sentiments introduced several major philosophical breakthroughs.

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His second work The Wealth of Nations was one of the world’s first collected descriptions of what builds nations’ wealth and it shaped the way the world conducted commerce for centuries to come. Moreover, it is one of the most influential books ever written and is till date regarded as a fundamental work in classical economics.

The economic theories of Adam Smith revolutionized world economics paving the way for the free market system and capitalism. He is thus one of the most influential people of the 18th century. Here are the 10 major accomplishments of Adam Smith including his contributions to economics.

#1 HIS ECONOMIC THEORIES REVOLUTIONIZED WORLD ECONOMICS

During Smith’s time, e